Responding to the Living Wage Foundation’s announcement of a new £14.80 London Living Wage hourly rate, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“These are clearly challenging times for businesses and individuals alike, but for those firms that feel able to pay the London Living Wage there are a host of 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 heap further costs on to businesses as they seek to recruit, retain and train the talent they need to thrive.”