The London living wage is based on what is needed to afford the cost of living.
More than 130,000 Londoners will see a 10% pay rise as the 'London living wage' increases to £13.15 an hour. The special wage, created by the charity Living Wage Foundation, is based on independent calculations of what people need to afford their cost of living.
The figure is separate to that of the National Living Wage, which is the same across the UK. The announcement follows research by the foundation which highlights there are roughly 575,000 low-paid workers in London, with its recent survey suggesting 60% have used a foodbank in the past year and 39% regularly skip meals for financial reasons.According to the charity's calculations, a full-time worker earning the new London living wage would earn more than £5,323 extra across the year compared to someone on the current National Living Wage.Workers at London Stadium in Stratford, east London, are among those to benefit from the changes.She said the pay rise will have a "positive impact on my motivation and productivity at work" and it will help her "feel secure about tomorrow". "The rate rise makes a real difference to me and my family especially when the cost of living is so high, particularly in London," she added. The Mayor of London, Sadiq Khan, said: "I am proud that London Living Wage has risen by 40% since I was elected in 2016, and this year's 10% increase is the biggest jump ever. Katherine Chapman, director of the Living Wage Foundation, said: "As inflation eases, we cannot forget that low-paid workers remain at the sharp end of the cost-of-living crisis. "Low-paid workers continue to struggle with stubbornly high prices because they spend a larger share of their budget on food and energy."
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