CHANCELLOR Sajid Javid's announcement that the Tories have set a minimum wage target of £10.50 within five years has been branded a "con" by an SNP MP.

Analysis of the policy, which will see the figure rise from £8.21 to £10.50 by 2024, shows an increase of 46 pence per year.

That is the exact amount minimum wage was already due to rise by in the next year, with the figure set to grow from £8.21 per hour to £8.67 per hour by 2020.

If the minimum wage continued to grow at the level previously set it would reach £10.51 by 2024.

The analysis suggests the target is not a new policy. SNP MP Stewart McDonald replied to one journalist's number-crunching, saying: "It's always a con with the Tories."

Currently, only over 25s are eligible for the UK Government's £8.21 minimum wage. Those aged between 21 and 24 receive £7.70 per hour, people aged from 18 to 20 are paid £6.15 per hour, under 18s get £4.35 per hour and apprentices qualify for just £3.90 per hour. 

The Scottish Living Wage is currently £9.00 per hour and is based on the cost of living. Scottish businesses can be accredited as Living Wage employers if they choose to go above the Westminster standard.