What is the Living Wage?
In 1998 the government introduced the law for the National Minimum Wage which was then implemented the following year. Back then this meant that employers had to meet a minimum pay standard of £3.60 per hour for those over 22 and older and £3 for 18-21 year olds.
Fast forward to 2016 and the government, inspired by a 25 year campaign by The Living Wage Foundation, introduced a higher minimum wage calling it the National Living Wage which currently stands at the following rates:
Interestingly, this isn’t calculated by according to what employees and their families need to live but is based on a target to reach 60% of median earnings by 2020; and for under 25’s these rates also take into consideration affordability for employers.
The Living Wage Foundation are still campaigning for employers, who can afford it, to meet the rates they say are independently calculated on what people need to get by which are £9 per hour across the UK and £10.55 in London for anyone above 18 years old.
For more information on their work go to www.livingwage.org.uk
What do you think about the difference between the National Living Wage and what The Living Wage Foundation call ‘The Real Living Wage’’?