ONE of the standout revelations to come from Rishi Sunak's Budget briefing today was undeniably his plan to increase the minimum wage from £8.91 to £9.50.

It will come into force next year and represent a 6.6 per cent rise per hour, which equates to more than £1,000 a year extra for full time workers.

According to the Chancellor it will benefit more than two million of the lowest paid workers in the country, but some people have been left feeling it is still not enough.

READ MORE: Budget 2021 speech live: Follow government’s announcement

Dr David Zentler-Munro, from University of Essex's department of economics believes the hike will not be enough to protect and support low-income workers still struggling following the pandemic.

He said: “The increase to the minimum wage will provide a welcome boost to earnings and offset higher consumer prices.

"However, the well-being of low paid employees is determined by many factors other than wages, including hours worked, regularity of shift patterns, potential for career progression and much else besides.

Echo:

"The risk is this concentration just on the minimum hourly wage fails to address these other factors.

"A wider debate on support for the wellbeing of those in precarious employment is therefore badly needed.”

Gary Smith, general secretary of the GMB trade union. is also far from flattered by Mr Sunak's wage increase.

He says it makes for a step in the right direction, but the fight to truly rejuvenate the wallets of workers families is far from over.

“Let’s be clear about what the minimum wage is," he said.

“It doesn’t lift people out of poverty, it is a statutory minimum for four age classifications and apprentices.

"And while it raises that minimum threshold the increase isn’t going to level-up workplaces and communities across our regions and nations.

“Tackling the growing understaffing crisis and the damage done by a decade of ruinous Tory cuts is going to require substantial increases across key areas of the economy.

“So, lifting the minimum wage merely represents a small step in a marathon of change if the Government has any credible hopes of ending the low pay and insecure work which is so prevalent across our economy.”