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03/11/2014
Increase In Living Wage Rate
The UK Living Wage Rate has risen by 2.6% from today, Monday, and set to £7.85 per hour.
According to the Living Wage Foundation it is 21% higher than the national minimum wage of £6.50 per hour.
This will improve the take home pay of 35,000 low-paid workers across the country who are employed by over 1,000 Living Wage accredited organisations.
The London Living Wage rate has been set at £9.15.
Rhys Moore, Director, Living Wage Foundation said: "As the recovery continues it’s vital that the proceeds of growth are properly shared. It’s not enough to simply hope for the best. It will take concerted action by employers, government and civil society to raise the wages of the 5 million workers who earn less than the Living Wage.
"The good news is that the number of accredited Living Wage employers has more than doubled this year – over 1,000 employers across the UK have signed up. In the last 12 months the number of Living Wage employers in the FSTE 100 has risen from four to 18 including Canary Wharf Group and Standard Life.
"Those businesses that can should follow the example of Nestle and Nationwide, as well as hundreds of smaller, independent businesses like CTS Cleaning and Hodgson Sayers Roofing, who pay the Living Wage.
"Low pay costs the taxpayer money – firms that pay the minimum wage are seeing their workers’ pay topped up through the benefits system. So it's right that we recognise and celebrate those employers who are voluntarily signing up to the higher Living Wage, and saving the taxpayer money in the process.
"The Living Wage is an independent calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day's pay."
(CD/IT)
According to the Living Wage Foundation it is 21% higher than the national minimum wage of £6.50 per hour.
This will improve the take home pay of 35,000 low-paid workers across the country who are employed by over 1,000 Living Wage accredited organisations.
The London Living Wage rate has been set at £9.15.
Rhys Moore, Director, Living Wage Foundation said: "As the recovery continues it’s vital that the proceeds of growth are properly shared. It’s not enough to simply hope for the best. It will take concerted action by employers, government and civil society to raise the wages of the 5 million workers who earn less than the Living Wage.
"The good news is that the number of accredited Living Wage employers has more than doubled this year – over 1,000 employers across the UK have signed up. In the last 12 months the number of Living Wage employers in the FSTE 100 has risen from four to 18 including Canary Wharf Group and Standard Life.
"Those businesses that can should follow the example of Nestle and Nationwide, as well as hundreds of smaller, independent businesses like CTS Cleaning and Hodgson Sayers Roofing, who pay the Living Wage.
"Low pay costs the taxpayer money – firms that pay the minimum wage are seeing their workers’ pay topped up through the benefits system. So it's right that we recognise and celebrate those employers who are voluntarily signing up to the higher Living Wage, and saving the taxpayer money in the process.
"The Living Wage is an independent calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day's pay."
(CD/IT)
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