New ‘Real Living Wage’ rates were announced today, with hourly rates rising by £1, from £9.90 to £10.90 across the UK, and by 90p, from £11.05 to £11.95 in London
Photo: AFP via Getty Images)
Nearly 400,000 workers will receive a wage increase as of today after the increases are introduced to the voluntary real living wage.
Watch prices go up by £1, from £9.90 to £10.90 across the UK, and by 90p, from £11.05 to £11.95 in London.
New real living wage rates are usually announced in November, but they increased earlier than usual due to the cost of living crisis.
Real Living Wage is currently paid by over 11,000 employers and approved by the Living Wage Foundation.
It depends on what the full-time worker and his family need to make ends meet, including food, clothing, and household bills.
The rate is payable to everyone over 18 – with 390,000 eligible – and is updated each year.
It is separate – and higher – from the current national living wage, which is currently £9.50 for someone aged 23 and over.Read:Investors expect higher rates to persist after hawkish Jay Powell ends hope of Fed pivot
The national living wage is £9.18 for someone between the ages of 21 and 22 and £6.83 for those aged 18-20.
How to check if your company is paying a “real living wage”
Some of the big name people who pay the “real living wage” are:
- Everton Football Club
- EDF Energy
Royal Albert Hall
ExCel . Center
You can search for your employer on the Real Living Wage website.
There are now 39 “Living Hours” employers, including Aviva and the West Bromwich Building Society, who have guaranteed a minimum 16-hour workweek and month’s notice of shift patterns.
“With the cost of living rising so rapidly, millions are facing the terrible ‘free or eat’ choice this winter – which is why real living wage is more important than ever,” said Catherine Chapman, director of the Living Wage Foundation.Read:House prices forecast to stall next year – but no relief for renters | Business News
“Today’s new rates will provide hundreds of thousands of workers and their families with greater security and stability during these very challenging times.
“We are facing unprecedented challenges with the cost of living crisis, but companies continue to ramp up and support workers by subscribing to a ‘living wage’ in record numbers.
“We know that a living wage is good for employers as well as workers, which is why a real living wage must remain at the heart of solutions to address the cost of living crisis.”
“Low-wage workers are crying out for help,” union general secretary Christina Macnia said.
“The government should follow the institution’s lead and introduce an increase in the national minimum wage without delay. Waiting until April would be foolish.
“Ensuring that everyone is paid at least £15 an hour will be a lifeline for the millions who are barely dealing with household water costs.
“Instead of increasing bankers’ bonuses, the government should focus on those who are feeling real financial pain.”
GMB official Rachel Harrison said: “The fact that tens of thousands of NHS workers, school staff, local government workers and care staff are not even paying a living wage should be a sign of national disgrace.
“What kind of society do we want to live in? Do we want to make sure that those who take care of us can feed their children and keep a roof over their heads?”
Or do we want to allow already wealthy bankers to enjoy unsupervised bonuses in a vague attempt to ‘boost the city’?