The UK's national minimum wage is set to rise to £12.21 per hour for workers aged 21 and over from April 2025. But what does this mean for the UK economy, businesses, and the job market? Will this historic wage hike drive unemployment, or could it spark a positive shift in consumer spending and productivity?

In this video, we dive into the key economic debates surrounding this major policy change:

Could higher labour costs lead to job losses or automation?

Will businesses, especially SMEs, be able to handle the pressure?

Can increased wages boost consumer spending and economic growth?

Whether you're preparing for upcoming exams or keen to stay updated on real-world economic issues, this video is packed with essential insights.