Complex sentence: In his 2015 budget, George Osborne announced that from 1 April 2016, a further rate known as the "National Living Wage" ("NLW") will apply to those aged 25 or over and will be at the rate of £7.20 per hour.
Split into simpler sentences: In his 2015 budget, George Osborne announced that from 1 April 2016, a further rate known as the "National Living Wage" ("NLW") will be brought into force. The NLW will apply to those aged 25 or over and will be at the rate of £7.20 per hour.