An increase of more than 12% in the minimum wage has been approved from January 1st 2024, more than twice the predicted rate of inflation for 2023.

The increase of €1.40 an hour on the current rate of €11.30, taking it to €12.70 per hours, will mean someone on the minimum wage who works a 39 hour week would earn an additional €54.60 per week from this January 1st 2024 to tackle the cost of living.