MAYOR Boris Johnson yesterday announced a 25p increase in the so-called living wage in London from £8.55 to £8.80 an hour.
The wage, which is adopted by firms on a voluntary basis, has also risen outside the capital – from £7.45 to £7.65 per hour worked.
While the scheme is optional, unlike the enforced minimum wage, it has already resulted in higher pay for approximately 11,500 London workers since its introduction in 2005.
Johnson said: “By building motivated, dedicated workforces, the living wage helps businesses to boost the bottom line and ensures that hard-working people who contribute to London’s success can enjoy a decent standard of living.”
PwC is one of 80 firms that has been formally recognised as paying the living wage and accredited by the Living Wage Foundation.
PwC’s Bridget Jackson said: “Since introducing the Living Wage we have seen benefits in improved performance levels and a reduction in staff turnover. Staff tell us it’s also made a difference to them personally. These are the kind of positive impacts that should encourage other businesses who are considering it.”