What Is The Living Wage?
The Living Wage isn’t a legal benchmark, but rather an informal one that is set within the UK to denote the acceptable level of pay that allows workers the chance to lead a comfortable life. This minimum wage differs throughout the country and it is usually set by the Chancellor of the Exchequer.
How Much Is The Living Wage?
The 2017 Living Wage is set at £9.75 per hour for those living in London and £8.45 everywhere else in the UK. When compared with the national minimum wage, which is about £7.20 for people over 21 years of age, a large discrepancy can easily be seen between the two.
Who Pays This Wage?
At the moment, very few firms are following this wage suggestion. People throughout the country are campaigning to have the Living Wage instated in businesses all over the UK, but it is slow going. It remains to be seen whether this will change in the future.