UK Living Wage rises by 3.6 per cent
At least 150,000 workers in the UK are set to receive an increase in pay after The Living Wage Foundation announced a 3.6 per cent rise in the UK Living Wage.
The new UK rate is now £8.75 per hour, up from £8.45 and £1.25 more than the minimum wage.
London’s Living Wage has risen by 4.6 per cent to £10.20 per hour, up from £9.75 and £2.70 more than the minimum wage.
The increase comes as a result of the cost of living rising across the UK and London. It also follows research released by professional services and Big Four firm KPMG, which found that one in five workers in the UK are still being paid less than the Living Wage.
More than 3,600 UK businesses are now paying employees the Living Wage, with more than 1,000 businesses signing up since Living Wage Week last year.
Among the businesses that are helping their workers to earn a wage that meets the cost of living are Nationwide, Aviva, and Heathrow Airport, which is set to become the first airport to pay the Living Wage.
Commenting on how paying the UK Living Wage can help businesses, Living Wage Foundation Director Katherine Chapman said: “Great businesses know that even during these tough times, not only is fair pay the right thing to do, but paying the real Living Wage brings big benefits. Nine out of ten accredited Living Wage employers report real benefits including improved retention, reputation, recruitment, and staff motivation.”