The real living wage has increased to £9.90, a boost of 40p. This is different to the compulsory National living wage which is £8.91, for anyone over the age of 23. London living wage will increase to £11.05 per hour. Almost 9,000 employers have signed up to the policy to give staff the real living wage, which provides greater financial security and less turnover.
The real living wage rate ensures staff earn what they need to cover day to day costs. Record numbers of employers have signed up to the adhere to the policy like Taylor Wimpey. Existing ones include Nationwide Building Society and Burberry.