On Monday 3rd November, Phil Rumbelow, the Chief Executive of Jubilee Hall Trust, attended a Westminster event with local MPs Karen Buck and Mark Field to help celebrate Living Wage Week. Whilst the national minimum wage – a legal requirement – is just £6.50 per hour, the London Living Wage (LLW) has just gone up from £8.80 to £9.15, an increase of 4%.
The LLW is an hourly rate set independently and updated annually, and calculated according to the basic cost of living in the Capital. The Living Wage enjoys cross party support, with public backing from the Prime Minister and the Mayor of London, but it is voluntary for employers and 9 out of 10 big businesses still don’t pay it.
‘We started paying the London Living Wage in April this year, as we believe that it is good for business, good for the individual and good for society. In the service industries, staff work long and unsocial hours, and we believe that they should be reasonably rewarded for the job they do. We are pleased that the movement is now gathering momentum with more than 1000 companies signed up, compared with just 100 in 2012.’
Employers who are signed up to the scheme have up to six months to implement the increase. Interested companies can get more information from Living Wage