Boris: London living wage to reach £9.40 an hour next year

Meanwhile, the national minimum wage is just £6.70

The London living wage will be set at £9.40 next year, Mayor of London Boris Johnson has announced.

The living wage is an optional rate of pay, set by the Living Wage Foundation, and over 2,000 businesses in London use it to set wages for employees.

It is calculated on the basic costs of living in London.

Currently, the London living wage stands at £9.15 an hour, so the rise next year will be an increase of 25p.

The £9.40 figure dwarfs the current minimum wage in Britain of £6.70 for those over 21-years-old, and the pitiful £5.30 for those aged 18 – 20.

The government’s new compulsory national living wage is also set to come into force next April. It will initially be set at £7.20 an hour and will then rise to £9 an hour by 2020 – figures still well below the living wage.

Sarah Vero, director of the Living Wage Foundation said: “Today we are celebrating those 2,000 responsible businesses that are voluntarily paying the living wage to their staff.

“The living wage campaign is growing at pace. More UK businesses are announcing their living wage accreditation. They join a growing list of organisations ranging from FTSE 100 companies to independent businesses, small to medium sized enterprises and third sector employers who all share our belief that work should be the surest way out of poverty. The living wage is good for people and for business.”

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