Voluntary Living Wage rates announced
02 November 2016
2 November 2016
Living Wage Week takes place each year during the first week of November and as part of this the new rates are announced. The UK rate is announced simultaneously in cities around the country whilst the London rate is announced by the Mayor of London.
The Mayor of London Sadiq Khan announced that the new London Living Wage has increased from £9.40 to £9.75 per hour to reflect the higher cost of living facing families in the city – an increase of 3.7 per cent. This year over 300 more London-based employers have signed up to pay their staff the hourly rate required to make ends meet in the capital, bringing the number of London Living Wage employers to nearly 1000.
The UK rate has increased by 2.4% from £8.25 to £8.45. This is 17% higher than the government minimum for over 25s which is £7.20 per hour. And in total nearly 1,000 employers have signed up since Living Wage Week last year bringing the total number of accredited Living Wage organisations to nearly 3000.
New household names are announcing their commitment to pay the real Living Wage: Everton Football Club, the British Library, RSA Insurance Group, Curzon Cinemas and law firm DLA Piper International. They join employers across the UK ranging from FTSE 100 companies to small independent businesses who are choosing to go further than the government minimum wage and ensure that all their staff and onsite contractors earn the real Living Wage which meets the cost of living.
These companies join others signed up with the Living Wage Foundation including household names IKEA, Majestic Wine, National Express Bus and EDF Energy.
The announcements come after new research published by KPMG showed that 1 in 5 people are still paid less than the real Living Wage.
For information about the Living Wage Foundation and Living Wage week visit the Living Wage Foundation website.