Accounting firm KPMG, published a recent study, suggesting that nearly six million workers are currently being paid less than the UK’s voluntary living wage of £7.85 (£9.15 in London), as promoted by the ‘Living Wage Foundation’. With part-time workers, female and young workers, most likely to earn below the recommended figures.
Supported by more than 2,000 businesses, with just under 70,000 workers, the Living Wage Foundation have announced that they will be increasing the voluntary living wage by a further 40p, £8.25 per hour and a slightly lower rise of 25p to £9.40 for workers in the city.
While the Government shows determination to move the economy to a higher wage, with the introduction of a compulsory new National Living Wage coming into force in April next year, this is still lower than the ‘Living Wage Foundation’ advisories?.
A government spokeswoman commented that the new National Living Wage (being introduced next April) will boost the income of 2.7 million workers in the UK, with a full-time worker earning over £4,800 more annually by 2020.
The National Living Wage will come into force in April 2016, setting an hourly rate of £7.20 to all workers aged 25 and above, with plans to increase this to £9 by 2020.