The Mayor of London Boris Johnson has announced a near three per cent increase in the London Living Wage and revealed 295 additional employers this year are now paying their staff the capital’s hourly rate.
The London Living Wage has increased from £9.15 to £9.40 per hour, a rise of 2.7 per cent, and the calculation of the rate reflects the higher costs of living in the city.
Announcing the increase, the Mayor also revealed the number of employers now paying their staff the London Living Wage has grown from 429 to 724 in the last 12 months. This compares with just 27 employers who publicly backed the Living Wage in 2008.
Major brands including Oliver Bonas, Chelsea Football Club and GlaxoSmithKline have all joined the army of organisations now accredited as London Living Wage employers over the last year, while last month Lidl became the first major supermarket to pay its staff the rate. Since 2005 the London Living Wage has grown by 40.3 per cent and more than 30,000 workers stretching across the capital have benefited from the increased wage since 2011.
The Mayor of London, Boris Johnson, said: “I am delighted that more than 700 employers have signed up to paying the London Living Wage and we now have tens of thousands of employees being properly rewarded for the work they do.
“As our economy continues to grow and employment in London increases, it is essential all hardworking Londoners receive a fair share of the proceeds of the capital’s success.
“I have long argued that those companies that can afford to pay the London Living Wage should do so because there are clear benefits for employers in increasing productivity and reducing staff turnover, while it makes a real difference to the quality of life for employees.
“I encourage businesses in the capital to follow the example of Lidl and Oliver Bonas and pay their staff the London Living Wage.”