By paying the real Living Wage, employers are voluntarily taking a stand to ensure their employees can earn a wage which is enough to live on.
As well as it being the right thing to do, there is a growing body of evidence demonstrating the business benefits of becoming a Living Wage employer.
The Living Wage rates are independently calculated based on the real cost of living in the UK and London.
The new rates for 2023/24 are:
- £12 per hour UK rate; and
- £13.15 London rate. See: [Real Living Wage increases to £12 in UK and £13.15 in London | Living Wage Foundation](https://www.livingwage.org.uk/news/real-living-wage-increases-%C2%A312-uk-and-%C2%A31315-london)
The International Monetary Fund (IMF) Executive Board has concluded its 2025 Article IV Consultation assessing that the UK economy is recovering, with modest growth expected this year and stronger momentum building into 2026.
The government has announced the revival of the Pensions Commission, twenty years after it helped bring in automatic enrolment. Its goal is to stop future pensioners from being worse off than those retiring today.