You are here: Home - Household Bills - News -

Thousands of workers set for real Living Wage pay rise

Written by: Paloma Kubiak
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.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week