Yesterday on this site, George Osborne declared that of all the measures he has introduced as Chancellor, the introduction of the National Living Wage is the achievement he is proud of the most. The policy, which came into force yesterday, has raised the legal wage floor for workers aged 25 and over to £7.20 per hour, with an estimated 1.3 million benefiting. The Government has set a target of over £9 an hour by 2020.