New national minimum wage comes into effect

The new rate will be set at €9.15

New national minimum wage comes into effect

File photo | Image: Niall Carson / PA Archive/Press Association Images

124,000 workers are expected to benefit from the new National Minimum Wage rate which comes into effect today.

As part of Budget 2016, the hourly rate will increase by 50c to €9.15.

Alongside USC and PRSI cuts, a single person working full-time on the minimum wage will now see an annual boost to their income of €708 a year or €14 a week.

The Minister for Business and Employment Ged Nash says that this is good news for the lowest paid workers: