Will Rishi Sunak’s national living wage rise really help ease the cost of living squeeze?

The increase is being billed as a 1,000 boost for a full-time worker

With a severe cost of living squeeze hitting Britain this winter, Rishi Sunak is betting that an increase in the minimum wage will dispel criticism that the Tories are idly standing by.

In the latest sneak preview of Wednesday's budget, the chancellor has signed off on a 6.6% increase in the national living wage from 8.91 an hour to 9.50, designed to help Britain's lowest-paid workers.