Thousands of workers are set for a pay rise after the number of companies in the UK that have signed up to the Living Wage more than doubled in the last year to over 1,000. According to community organisation, Citizens UK, 35,000 low-paid workers will now see their pay rise on Monday when a new higher rate of Living Wage is announced. The current Living Wage rate is £7.65 an hour which compares favourably to the national minimum wage of £6.50.
The amount workers receive is set by the Living Wage Foundation, part of Citizens UK, and is calculated by the Centre for Research in Social Policy at Loughborough University. It takes into account what workers require to meet their basic needs. In London, the Living Wage is currently £8.80 an hour. Big employers including Canary Wharf, Standard Life, Nationwide and Nestle have all signed up. Cockadoodle do! Christmas has come early.