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  • The Chancellor will likely to confirm a 4.1% rise in the National Living Wage in the Budget…
  • …But 18-to-20-year-olds will see a much bigger rise, while the ‘Real Living Wage’ increases 6.7%.
  • The BoE now expects a 3.5% rise in pay settlements in 2025, likely supported by hikes for the low paid.

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Keywords for: 26 November 2025 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence