Responding to the Living Wage Foundation’s announcement of an increase to the London Living Wage hourly rate, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Firms are a facing a tough outlook with rising energy and employment costs, but for those that feel able to pay the London Living Wage there are tangible benefits.
“Becoming a Living Wage Employer not only demonstrates your social responsibilities but can also provide a competitive edge over rivals, for instance by boosting recruitment and retention of talent or by helping to win new contracts.
“To maximise the number of firms who can go the extra mile and pay the London Living Wage, it’s vital that the upcoming Autumn Budget doesn’t pile further costs on to businesses as they seek to deliver good growth in the capital and beyond.”