The chancellor said the most reckless political choice would be failing to deliver Brexit (Picture: Getty Images)

Sajid Javid has announced an increase in the National Living Wage to £10.50 by 2024.

He also said he would expand the reach of the mandatory minimum wage to cover all workers over the age of 21, down from the present 25.

The chancellor made the announcement at the Conservative Party conference in Manchester.

He said: ‘Over the next five years, we will make the UK the first major economy in the world to end low pay altogether.’

Mr Javid said he was setting a new target for the ‘National Living Wage’, raising it to match two-thirds of median earnings and ‘giving four million people a well-earned pay rise’.

The previous National Living Wage was set at £8.21 for those 25 and over and £7.70 for 21 to 24.

Currently, for those between the ages of 18 and 20, the rate is set at £6.15.

The chancellor also announced spending pledges to bring about an ‘infrastructure revolution’ (Picture: AFP)

The chancellor also said that ‘deal or no deal’ the country will be prepared to deal with the consequences.

Mr Javid said the ‘main concern of businesses was the threat posed to them by the Labour party’.

It comes as he also announced a spending blitz worth billions of pounds to bring about an ‘infrastructure revolution’, prioritising roads, buses and broadband.

Mr Javid delivered his keynote speech on the second day of the annual Conservative Party conference (Picture: AFP)

Mr Javid also announced plans for further devolution to cities across the country.

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The chancellor also pledged £25bn towards road projects, £220m for bus improvements and £5bn for digital infrastructure in his speech, along with extra funding for youth services.

The Labour party meanwhile said it would get to £10 for all, including under 18s by next year.