Sadly, the reality is that from April this year, the Bank of England predicts inflation to exceed seven per cent, alongside hikes in national insurance, council tax and soaring energy bills.
This increase will impact households across the UK, however, young people once again find themselves disproportionately affected by circumstances outside of their control.
Making up almost 30 per cent of the lower paid workforce – and despite a small increase across the board announced by the Chancellor last year – the discrepancy in wages for young people as of April 2022 remains. Under-18s and those in apprenticeship schemes will earn the minimum of between £4.30-£4.62 per hour compared with £8.36 for 21- to 22-year-olds, and £9.50 for those aged 23 and over, who will now receive the National Living Wage.
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