Updated 25 October 2026
Quick answer: In the United Kingdom in 2026, the minimum wage is £12.71/hour (about $2,945 a month full time); an average earner keeps 77% of their pay after income tax and social security; mortgage rates are about 6%; household electricity costs 26.32p per kWh; petrol is 174.6p/L, up 32.5% since February. The table below puts 10 everyday money measures for the United Kingdom side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Most comparisons of the United Kingdom look at one number at a time. This page gathers the figures that matter for working, buying a home, paying bills and retiring in the United Kingdom, so you can see them together and see how the United Kingdom compares. Each section links to our full guide for that topic, which covers every country and lists the original sources, and each dataset can be downloaded free.
The United Kingdom at a Glance
| Measure | United Kingdom | Rank |
|---|---|---|
| Minimum wage | £12.71/hour (≈ $2,945/month) | 3rd highest of 38 |
| Tax on an average wage | 23.1% (keeps 77%) | 12th lowest of 38 |
| Pay rise forecast 2027 | 3.3% (inflation 3.5%) | 12th lowest of 29 |
| Mortgage rate | 6% (5-year fixed, 5 Oct 2026) | 6th highest of 31 |
| Electricity (household) | 26.32p/kWh (≈ $0.35) | 6th highest of 33 |
| Petrol price | 174.6p/L (+32.5% since Feb) | 8th highest of 29 |
| State pension age | 66, rising to 67 | 12th highest of 39 |
| Pension (share of pay) | 54.2% of net pay | 18th lowest of 50 |
| Bank deposit protection | £120,000 per person, per bank | — |
| Inheritance tax (children) | top rate 40% | — |
Rank compares the United Kingdom with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in the United Kingdom (2026)
The legal minimum wage in the United Kingdom is £12.71/hour. For a month of full-time work that is about $2,945 at current exchange rates, 3rd highest of 38 countries in our comparison. National Living Wage for 21+ from 1 April 2026.
Full table for every country, with sources: Minimum Wage by Country 2026: Hourly and Monthly Rates in US Dollars. Download the data (CSV).
Income Tax and Take-Home Pay in the United Kingdom
A single worker on the average wage in the United Kingdom (about $82,000 at purchasing-power parity) pays 23.1% of gross pay in income tax and employee social security, so they keep 77%. That is 12th lowest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 23.1% of pay at the average wage, 18.6% at two-thirds of it and 30.7% at 1.67 times it. Including employer contributions, the total tax wedge is 32.4% of labour costs.
Full table for every country, with sources: Income Tax by Country 2026: How Much of Your Salary You Keep in 38 Countries. Download the data (CSV).
Pay Rises in the United Kingdom: 2027 Forecast
Employers in the United Kingdom expect to raise salaries by 3.3% in 2027 (median of the major pay surveys), after 3.4% in 2026. With inflation at 3.5% (Sep), that is a real cut of about 0.2 points unless inflation falls.
Full table for every country, with sources: Salary Increase Forecasts 2027 by Country: Every Major Survey in One Table. Download the data (CSV).
Mortgage Rates in the United Kingdom (2026)
The typical mortgage rate in the United Kingdom is 6% (5-year fixed, 5 Oct 2026), 6th highest of 31 countries.
Moneyfacts average, the highest since 2023; 2-year fixes average 5.98%. Per £100,000 over 25 years: £644 a month.
Full table for every country, with sources: Mortgage Rates by Country 2026: Where Buying a Home Costs the Most. Download the data (CSV).
Electricity Prices in the United Kingdom
Households in the United Kingdom pay about 26.32p per kWh of electricity (about $0.35), 6th most expensive of 33 countries. Basis: Ofgem price cap, Oct–Dec 2026.
Unit rate under the price cap for England, Scotland and Wales, plus a 54.83p daily standing charge. Gas: 7.97p per kWh.
Full table for every country, with sources: Electricity Prices by Country 2026: What Households Pay per kWh, and What the Iran War Means for Bills. Download the data (CSV).
Petrol Prices in the United Kingdom Since the Iran War
Petrol in the United Kingdom costs 174.6p/L (week of 19 October 2026), up 32.5% from 131.7p/L in the week before the Iran war began. It peaked at 175.3p/L (12 Oct). At about $2.33 a litre it is 8th most expensive of 29 countries, and the rise is 9th largest of 29 countries.
Full table for every country, with sources: Petrol Prices Since the Iran War: How Much They Have Risen in 35 Countries. Download the data (CSV).
Retirement Age in the United Kingdom
The state pension age in the United Kingdom is 66, rising to 67 for people reaching it in 2026; the earliest you can claim is No early state pension. Future change: 67 by March 2028; 68 planned for 2044–46. The rise to 67 began in May 2026 for people born on or after 6 April 1960. Private pensions can be accessed from 55 (57 from 2028).
Full table for every country, with sources: Retirement Age by Country 2026: State Pension Ages in 39 Countries. Download the data (CSV).
How Much the State Pension Pays in the United Kingdom
A full-career average earner in the United Kingdom can expect a mandatory pension worth about 54.2% of their previous net pay, 18th least generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 76%. High earner (twice the average): 40%.
Full table for every country, with sources: State Pension Amounts by Country 2026: How Much Retirees Actually Get. Download the data (CSV).
How Much of Your Money Is Protected in the United Kingdom
Bank deposits in the United Kingdom are protected up to £120,000 per depositor, per bank (about $160,400), under the FSCS scheme. From 1 December 2025; temporary high balances up to £1.4m. Money in payment apps and e-money wallets is usually not covered.
Full table for every country, with sources: Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected. Download the data (CSV).
Inheritance Tax in the United Kingdom
The United Kingdom has estate tax. Children can receive £325,000 + £175,000 for a home left to children tax-free, and the top rate for children is 40%, 4th highest of 28 countries. 40% above the allowances, which pass between spouses (up to £1 million for a couple); unused pensions taxable from April 2027.
Full table for every country, with sources: Inheritance Tax by Country 2026: Thresholds, Rates and Who Pays. Download the data (CSV).
Frequently Asked Questions
What is the minimum wage in the United Kingdom in 2026?
The minimum wage in the United Kingdom is £12.71/hour, about $2,945 a month for full-time work. That is 3rd highest of 38 countries. National Living Wage for 21+ from 1 April 2026.
How much tax do you pay in the United Kingdom?
On the average wage, income tax plus employee social security in the United Kingdom take 23.1% of gross pay, so a single worker keeps 77% (OECD average: 25.1%).
What is the average pay rise in the United Kingdom for 2027?
Pay surveys forecast an average salary increase of 3.3% in the United Kingdom for 2027, against inflation of 3.5%.
What are mortgage rates in the United Kingdom right now?
Mortgage rates in the United Kingdom are about 6% (5-year fixed, 5 Oct 2026). Moneyfacts average, the highest since 2023; 2-year fixes average 5.98%. Per £100,000 over 25 years: £644 a month.
How much does electricity cost in the United Kingdom?
Household electricity in the United Kingdom costs about 26.32p per kWh (about $0.35), 6th most expensive of 33 countries.
How much has petrol gone up in the United Kingdom?
Petrol in the United Kingdom has risen 32.5% since February 2026, from 131.7p/L to 174.6p/L.
What is the retirement age in the United Kingdom?
The state pension age in the United Kingdom is 66, rising to 67 in 2026, with the earliest claim at No early state pension. Legislated change: 67 by March 2028; 68 planned for 2044–46.
How much is the state pension in the United Kingdom?
In the United Kingdom, mandatory pensions replace about 54.2% of an average earner's net pay after a full career, against an OECD average of 63.2%.
How much money is insured in a bank in the United Kingdom?
Deposits in the United Kingdom are insured up to £120,000 per person, per bank.
Is there inheritance tax in the United Kingdom?
Yes. Children can inherit £325,000 + £175,000 for a home left to children tax-free in the United Kingdom; above that the top rate for children is 40%.
Compare the United Kingdom With Other Countries
See every country side by side in Compare Countries 2026: Minimum Wage, Tax, Mortgage Rates, Energy and Pension Age in 35 Countries, or open a country page: Australia, Austria, Belgium, Brazil, Canada, China, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, India, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, the United States.
Related Guides
- Minimum Wage by Country 2026: Hourly and Monthly Rates in US Dollars
- Income Tax by Country 2026: How Much of Your Salary You Keep in 38 Countries
- Salary Increase Forecasts 2027 by Country: Every Major Survey in One Table
- Mortgage Rates by Country 2026: Where Buying a Home Costs the Most
- Electricity Prices by Country 2026: What Households Pay per kWh, and What the Iran War Means for Bills
- Petrol Prices Since the Iran War: How Much They Have Risen in 35 Countries
- Retirement Age by Country 2026: State Pension Ages in 39 Countries
- State Pension Amounts by Country 2026: How Much Retirees Actually Get
- Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected
- Inheritance Tax by Country 2026: Thresholds, Rates and Who Pays
- How Much Emergency Fund Do You Need? (With Calculator)
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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