24 October 2024
The Real Living Wage has been uplifted to £12.60 per hour and £13.85 in London, a welcome increase for the 475,000 employees of the 15,000 employers that are signed up to pay the Real Living Wage. The new rates should be implanted as soon as possible, but employers have up to Six months to make the changes.
Recently we have seen a reduction in the gap between the governments National Minimum Wage (NMW) and the Real Living Wage.
As part of the government’s commitment towards a genuine living wage, the government has recently overhauled the Low Pay Commission’s remit to include the consideration of the cost living when recommending minimum wage rates. However, that is only one of many other contributing factors. While the Real Living Wage rate is calculated independently, based on their own assessment of the actual cost of living.
The new NMW rate from April 2025, is expected to be announced during the budget on 31 October. Are we in a place where the NMW will continue to chase the Real Living Wage?
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