More companies should become Living Wage employers, says TUC
The Living Wage Foundation has today (Monday) announced that the UK Living Wage will increase by 30p to £8.75 per hour. The London Living Wage rate will increase by 45p to £10.20.
Unlike the government’s “national living wage”, the Living Wage Foundation calculates an independent rate based on what working people need to live on.
TUC General Secretary Frances O’Grady said:
“Extending the Living Wage is vital. Millions of people are living in poverty despite being part of working households
"These new rates would make a big difference to Britain's lowest paid. And they would help families keep their heads above water.
“But more companies need to sign up. Profits in the UK are at record levels. Yet many bosses are still refusing to invest in their staff.
“Smart employers know the value of paying the real Living Wage. It reduces staff turnover and boosts productivity levels.”
- A TUC poll in September found that 1 in 8 working people skip meals to save money, and that 1 in 6 have pawned items to pay the bills: bit.ly/2gWqr8P
- The calculation of the independent Living Wage rates is overseen by the Living Wage Commission, based on the best available evidence on living standards in London and the UK.
- According to ONS figures, UK corporate profitability stands at 12.7%, close to the highest recorded level (13%) in 2014. Source: bit.ly/2xJ9qpa
- The TUC is itself a Living Wage employer, with all staff paid above the living wage.
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