Reeves announces 'bonkers' inflation-busting minimum wage hike

Rachel Reeves is facing a major backlash after she announced a 'bonkers' inflation-busting minimum wage hike that threatens to push even more young people out of work.The Chancellor revealed that the national living wage for 18-20 year olds will rise by 8.5 per cent to £10.85 per hour from next April. For 16-17 year olds it will go up by 6 per cent to £8.But a chorus of business leaders and economists warned that it would simply result in more young people being left on the jobs scrapheap as the cost of employing them spirals.