You are here: Home - Household Bills - News -

Thousands of workers set for real Living Wage pay rise

0
Written by: Paloma Kubiak
05/11/2018
The Living Wage Foundation has announced a rise in the voluntary pay initiative adopted by employers to up to £10.55 an hour.

The real Living Wage is voluntarily paid by nearly 5,000 UK businesses and is separate and higher than the government’s statutory minimum wage.

Calculations are made based on a basket of household goods and services, and reflects what people need to get by.

The Living Wage Foundation has announced that the real Living Wage should rise from £8.75 to £9 an hour across the UK and from £10.20 to £10.55 an hour for those working in London.

In total, around 180,000 employees should see their wages rise as a result.

Employers are encouraged to implement the rise as soon as possible, with employees receiving the new rates by 1 May 2019.

As part of last week’s Budget, the Chancellor announced The National Living Wage (statutory minimum for workers aged 25+) would increase from £7.83 an hour to £8.21 an hour in April 2019, benefiting 2.4 million employees.

Warren Kenny, GMB regional secretary said: “Now it’s time for more employers to start paying it. In particular, contractors in the public sector and the NHS who should be forced to pay it.

“These pay increases are badly needed. Earlier this year, GMB showed that across London as a whole the real value of average wages for workers resident in the capital in 2017 was only 84.6% of the buying power they had in 2007 when inflation is factored in. In the East of England the figure was 89.4%.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week