Voluntary London Living Wage increased to £9.75 an hour
The Mayor of London Sadiq Khan has announced that the new voluntary London Living Wage has increased from £9.40 to £9.75 per hour to reflect the higher cost of living in the city.
This year over 300 more London-based employers have signed up to pay their staff the hourly rate, bringing the number of London Living Wage employers to nearly 1,000.
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.
Nearly 1,000 employers have signed up since Living Wage Week last year bringing the total number of accredited Living Wage organisations to nearly 3,000.
Never Miss a Retail Update!The announcements come after new research published by KPMG showed that one in five people are still paid less than the real Living Wage.
Khan said: “It’s great news that London is leading the way in paying the Living Wage and that over 1,000 businesses are now accredited and helping to make this a fairer and more equal city. I’m glad to say we’re well on track to see it rise to over £10 an hour during my mayoralty, but we need to go further and for many more businesses and organisations to sign up.
“The London Living Wage is a fantastic campaign and I will be working to encourage more businesses across our great city to get involved. This will not only help London become a city where it’s a badge of pride for employers to pay the London Living Wage, but help us become a city where everyone benefits from the capital’s success.”