The Living Wage Foundation has today (Monday) announced that the Living Wage will increase by 30p to £8.75 per hour.
Unlike the government’s “living wage”, the Living Wage Foundation calculates an independent rate based on what working people need to live on.
Commenting on today’s rise, TUC Regional Secretary Nigel Costley said:
“Extending the Living Wage is vital. Many people are living in poverty despite being part of working households.
“The new rate would make a huge difference to lowest-paid workers in the South West. And it would help families keep their heads above water rather than turning to pay-day loans and credit cards.
“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, absenteeism, 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 an accredited living wage employer, with all staff paid above the living wage.
– The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together more than 5.6 million working people who make up our 50 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living.