The Living Wage Foundation have announced their increases to the voluntary real Living Wage and London Living Wage hourly rates.
A record 1,500 more employers have accredited with the Living Wage Foundation this year, with major new names including FTSE 100 company Hiscox, Crystal Palace Football Club, Welsh Water, Leeds Building Society, London City Airport and Newcastle University. These organisations join a network of almost 6,000 employers across the UK.
Today, businesses and civic leaders in Salford and Cardiff have also announced ambitious plans to become the first Living Wage cities in England and Wales, committing to more than double the number of local workers getting the rate.
The Living Wage rates are the only rates independently calculated based on what people need to live on. The London and UK rates are increasing by 20p (1.9 per cent) and 30p (3.3 per cent) respectively, with the single biggest factor explaining why the UK wide rate went up more quickly than the London rate being private rental costs (which rose faster UK wide). Childcare costs also rose at a faster rate outside of London.
The Living Wage Foundation is calling on all major employers to step up and tackle the rising problem of low pay by committing to go beyond the government minimum and pay a wage in line with the real cost of living.