London mayor announces rise that is “well on track to more than £10 an hour”.
Living Wage Foundation
The London Living Wage is to increase by 35p an hour to £9.75 from next year, London major Sadiq Khan has announced.
Nearly 3,000 businesses, including Oliver Bonas, are signed up to the voluntary Living Wage, which is set by the Living Wage Foundation.
Outside London, which accounts for a third of businesses paying the rate, the rate is increasing by 20p an hour to £8.45.
Khan said: ”It’s great news that London is leading the way in paying the Living Wage and that more than 1,000 businesses are now accredited, and helping to make this a fairer and more equal city.
“I’m glad to say we’re well on track to see it rise to over £10 an hour during my mayoralty, but we need to go further and for many more businesses and organisations to sign up.
“Paying the London Living Wage is not just the right and moral thing to do, it makes good business sense too. As many employers already accredited know, the benefits are clear – including increased productivity and reduced staff turnover.”
The London Living Wage is separate to the government’s national living wage, which increased to £7.20/hour for workers aged 25 and above last April.