Osborne announced the introduction of a "National Living Wage" of £7.20/hour, rising to £9/hour by 2020, which would apply to those aged 25 or over. This was widely cheered by both Conservative MPs and political commentators. He also announced a raise in the income tax personal allowance to £11,000; measures to introduce tax incentives for large corporations to create apprenticeships, aiming for 3 million new apprenticeships by 2020; and a cut in the benefits cap to £23,000 in London and £20,000 in the rest of the country.