MILLIONS of workers in the UK could be set for a pay rise which would see them earning almost £1,800 more a year.

This comes ahead of Thursday’s (November 17) Autumn budget where prime minister Rishi Sunak will reportedly raise the national living wage by almost 10 per cent.

This will be Sunak’s first budget since entering Downing Street.

According to reports from The Times, the move will benefit 2.5 million people.

Chancellor Jeremy Hunt expected to announce a rise in the national living wage

Currently, the national living wage stands at £9.50. The Times reports this is expected to be raised to £10.40.

South Wales Argus: Chancellor Jeremy Hunt expected to raise national living wage in Thursday's autumn budgetChancellor Jeremy Hunt expected to raise national living wage in Thursday's autumn budget (Image: PA)

For a standard 37.5-hour week, this would equate to a pay rise of £1,755 a year.

Lifting of cap on bankers’ bonuses expected in Chancellor’s autumn budget

Jeremy Hunt is also expected to lift the cap on bankers’ bonuses when he delivers his autumn budget on Thursday.

The Financial Times first reported the Chancellor will make the lifting of the cap one of the few measures to survive Kwasi Kwarteng’s disastrous mini-budget, as he bids to use the autumn statement to restore the UK’s economy.

When is the autumn budget announcement?

The autumn budget announcement is due at 11.30am today, Thursday, November 17.