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18 Oct Living Wage increased to £10.90 per-hour as the ‘cost of living’ bites

What is the Living Wage?

The Living Wage is a voluntary wage rate set by the Resolution Foundation based upon the price of consumer goods and naturally reflects actual inflationary costs in the rate set each year.

Many employers pledge to track the Living Wage rather than the National Minimum Wage to help ensure they are paying better value rates of pay to their employees, based upon the actual costs of living.

LIVING WAGE

The Resolution Foundation has, as of 22 September 2022, increased the rate by 10.1% in the UK and 8.1% in London.

The new UK rate is £10.91 p/h (£11.95 in London) compared to the National Minimum Wage presently set at £9.50 p/h (likely due an increase in 2023).

The Living Wage increase is now brought forward by the Resolution Foundation due to the pressure on the cost of living caused by inflation this year.

The foundation has urged employers to increase to the new rates as soon as possible but at least by May 2023.

Posted by Lee Stephens

Lee Stephens heads up the team with the help of his co-Directors, Lee has practiced as a specialist employment Solicitor for almost 20 years now, formerly as a Partner with a leading UK law firm Lee Stephens advises SME’s to PLCs and he has a wealth of experience in successfully helping businesses with all aspects of employment law from the day to day to complex reorganizations, TUPE, senior executive removals and disputes through to Tribunal too. KEY AREAS OF WORK Lee has significant experience on:- Post termination and confidentiality breaches and injunctive relief work TUPE transfers and consultations; Senior executive disputes and removals Re-organizations and restructures in various sectors from healthcare, manufacturing to independent schools Agency and self-employed contracts and related claims Employment Tribunal defence and claims Lee has spoken on invitation on various aspects of employment law for various groups across the UK. Using his knowledge and experience Lee solves problems for clients and provides excellent service too. Lee also undertakes his own advocacy and delivers management training workshops and he has particular experience working with clients within the Private School, Veterinary, Care, Recruitment and Production, Logistics & Manufacturing sectors.

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