Nearly 400,000 workers at businesses that have volunteered to pay the Real Living Wage are set to get a record pay boost.
The hourly rates are rising by £1 to £10.90 across the UK and by 90p to £11.95 in London, with immediate effect.
The 10.1% rise, which was brought forward from November, is the biggest in the scheme’s ten-year history and is meant to reflect soaring living costs.
New research from the Cardiff Business School shows that Living Wage workers have benefitted from more than £338 million in extra wages since the start of this year alone, with one in ten employees now working for an accredited Living Wage employer.
Katherine Chapman, Director of the Living Wage Foundation, said: ‘With living costs rising so rapidly, millions are facing an awful ‘heat or eat’ choice this winter – that’s why a Real Living Wage is more vital than ever. The new rates will provide hundreds of thousands of workers and their families with greater security and stability during these incredibly difficult times.
‘We are facing unprecedented challenges with the cost-of-living crisis, but businesses continue to step up and support workers by signing up to the Living Wage in record numbers. We know that the Living Wage is good for employers as well as workers – that’s why the Real Living Wage must continue to be at the heart of solutions to tackle the cost-of-living crisis.’