businesses will be forced to let workers share the fruits of recovery with the biggest real terms increase in the minimum wage since the financial crisis the standard rate will rise from october to £670 an hour, benefiting 14million, while the rate for apprentices will go up by a fifth – the largest increase on record the changes follow the prime minister's insistence that businesses should give their workers a pay rise scroll down for video  the standard rate of the national minimum wage will rise from october to £670 an hour, benefiting 14million workers  firms' costs are falling thanks to the strongest economic growth for seven years and the lowest inflation for more than a decade london mayor boris johnson – a frontrunner to succeed david cameron – has called for boosting wages even further to be the 'guiding conservative economic mission' in the next parliament chancellor george osborne and business minister matthew hancock have also been pushing the independent commission which recommends the minimum wage rate for above inflation rises today, mr cameron and deputy prime minister nick clegg will say the standard rate is to increase by 3 per cent – the largest real terms rise since 2008 the low pay commission had recommended that the minimum wage for apprentices should rise by 26 per cent, to £280 an hour prime minister david cameron is set to announce that the minimum wage will rise by 3 per cent to £670 in october  however, the government has decided it should be increased much further, by 20 per cent, to £330 there will also be a 3 per cent increase in the rate for 18 to 20 year olds, to £530 per hour the minimum wage for 16 to 17 year olds will go up by 2 per cent, to £387 per hour mr cameron said: 'at the heart of our long term economic plan for britain is a simple idea  that hard work is really rewarded, that the benefits of recovery are truly national  ‘that’s what today’s announcement is all about – saying to hardworking taxpayers, this is a government that is on your side it will mean more financial security for britain’s families; and a better future for our country’ deputy prime minister mr clegg said: ‘this is just one of the many ways in which we’ve created a fairer society whilst building a stronger economy if you work hard, this government is behind you all the way whether you’re on low pay or starting your dream career through an apprenticeship, you will get more support to help you go further and faster’ senior tories are calling on the chancellor to go further, and consider tax breaks for firms who pay the ‘living wage’, set above the national minimum wage the living wage is currently set at £785 an hour outside london and £915 in the capital ed miliband has said he wants to increase the minimum wage to £8 an hour by 2019 mr osborne has proposed a legal minimum of £7 far sooner the number of people on the national minimum wage has doubled since it was introduced 15 years ago and is now the pay rate for one in 20 workers, according to the resolution foundation think tank around 12 million employees earn the legal minimum wage compared with just over 600,000 in 1999 a further 13m workers are clustered close to the minimum wage   earning within 50p of the minimum level a series of below inflation increases over recent years had meant the real terms value of the wage had stalled john cridland, cbi director general, said: ‘it’s disappointing that the government has rejected the low pay commission’s recommendation on the apprentice rate ‘the national minimum wage has been one of the most successful policies of recent years thanks to the independence of the commission – its politicisation is worrying’ chuka umunna, labour’s shadow business secretary, said: ‘this 20p rise falls far short of the £7 minimum wage which george osborne promised over a year ago ministers have misled working families who have been left worse off where under david cameron we’ve seen the value of the minimum wage eroded, we need a recovery for working people ‘only labour has set a more ambitious target for the minimum wage which would see a rise to £8 by 2020, restoring the link between hard work and pay we would also act to ensure the national minimum wage is properly enforced where a tory led government has failed to get to grips with non payment 'currently 15 per cent of apprentices are not being paid the legal minimum, rising to almost a quarter for 16  to 18 year olds’
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