Raft of City firms promise to give London Living Wage to low paid

A RAFT of big-hitting City firms have agreed to pay their employees the London Living Wage, as part of Boris Johnson’s drive to push up wages for the low paid.

Investment banking giants UBS, Bank of America Merrill Lynch?and JP Morgan yesterday added their names to the growing list of firms promising to pay all staff a minimum of £7.85 per hour.

Law firms Allen & Overy, Freshfields Bruckhaus Deringer, Norton Rose and Slaughter and May also signed up to the scheme, bringing the total number of participating companies to 115.

Johnson said: “There is an army of workers... who keep this city functioning, and it is only right that they are rewarded with a wage that will help keep them out of poverty.”