Taxing low paid workers

That this House notes the Government's welcome recent announcement that the National Living Wage is due to increase to £12.21 per hour from April 2025 affecting three million lower paid workers; further notes that there is no increase in income tax thresholds, meaning that virtually all three million people will become tax payers; and understands that aligned to the increase in employers National Insurance contributions and the fact that many of those affected work in the hospitality sector which will entail retail prices increasing to pay for these additional costs, the end result will be that the general public will pay for the increase in wages while HM Treasury will gain several billion pounds in additional revenue every year.