UK to raise National Living Wage, lower age threshold - Javid

Britain's Chancellor of the Exchequer Sajid Javid gestures as he gives a speech during the Conservative Party annual conference in Manchester, Britain, September 30, 2019. REUTERS/Phil Noble

MANCHESTER, England (Reuters) - British finance minister Sajid Javid said on Monday he would increase the country’s National Living Wage, a mandatory minimum wage, and expand its reach to cover all workers over the age of 21, down from 25 now.

“Over the next five years, we will make the UK the first major economy in the world to end low pay altogether,” Javid said in the text of a speech to the annual conference of his Conservative Party.

The government would set a target to raise the National Living Wage to match two-thirds of median earnings, taking it to 10.50 pounds ($12.93) an hour, based on current forecasts, Javid said, up from 8.21 pounds an hour now.

Reporting by William James and Kylie MacLellan; Writing by William Schomberg