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Jeremy Corbyn delcared George Osborne's so-called National Living Living wage a "corruption of the very idea" of the Living Wage today at Prime Minister's Questions.

David Cameron took great issue with the Labour leader's use of the word "corruption" in describing a pay rise for "some of the poorest in our country."

Mr Corbyn stood firm, saying it's "not a living wage as it's generally understood.

So what is he talking about?

The Resolution Foundation think tank says 6 million people - 23% of all workers - will benefit from the new £7.20 rate, launched for over-25s in April.

The report says 3.2 million people will an average boost of £1,210 each by 2020, with another 2.8 million getting £240 through a 'ripple effect'.

But will that be enough to make up for the Tories' other cuts?

And what about under-25s, who'll see themselves on vastly different pay?

Here's why Jeremy Corbyn called it a "corruption" of the Living Wage.

There's already a living wage

(Image: Rex)

Experts have calculated that people living outside London and working full time need to earn £8.25 an hour to survive.

In London, it's been calculated at £9.40 an hour.

... and this is nothing like it

George Osborne's so called National Living Wage (NLW) started at £7.20 an hour - so even outside of London, it's not even close to the actual living wage of £8.25 an hour.

The NLW is expected to rise to £9 an hour by 2020, but even that is less than the £9.40 an hour the real London living wage is now.

And with rising inflation, who knows what that'll be by the end of the decade.

Not everybody gets it

You'll have to be over 25 to get the National Living Wage - but it's now the lowest amount you can legally pay someone over 25.

So effectively, the Living Wage is just a new age band of the National Minimum Wage.

And even if you do get it, you could end up worse off

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The announcement of the NLW came in the same budget that slashed working tax credits.

A report from Unison, one of the UK's biggest trade unions, shows that a family with two children, with both adults over 25 working 35 hours a week on the national minimum wage is set to lose £1,615 a year.

They would have been £850 better without changes to tax credits next April.

Not only that, but the Living Wage Foundation included tax credits in their calculations. Some experts say that without tax credits, the living wage would need to be more than £10 an hour.

On top of that, you'll be taxed on it

(Image: Getty)

Remember before the election, when David Cameron promised nobody earning the minimum wage would pay income tax? That went out of the window with the National Living Wage.

Cameron was going to achieve this by linking increases in the amount you can earn before being taxed to increases in the minimum wage.

But it won't be linked to the minimum wage paid to over 25s, it'll be the minimum wage paid to 21-24 year olds.

So if you're over 25 and working full time, you will pay tax on some of it.

And people in London will benefit much less

(Image: PA)

Today's report points out huge regional differences in the policy.

Yorkshire and the Humber will see the best impact, with 28% of workers getting a wage top-up.

Closely following behind is a 27% boost in the East Midlands, West Midlands and Wales.

But in London, only 14% of employees will benefit because some people earn more - and low earners have to be paid more just to survive.