500,000 workers waking up to pay rise worth up to £2,262 today

A pay rise has been for nearly half a million workers from TODAY. 500,000 workers employed by more than 15,000 companies paying the real living wage will get a pay boost from today, it has emerged, in a major Cost of Living increase.

The rate will rise by 60p to £12.60 an hour across the UK and by 70p to £13.85 in London for workers. A full-time worker earning the new real living wage will earn £2,262 a year more than a worker earning the current government minimum.

Katherine Chapman, director of the foundation said low-paid workers have been "hardest hit by the cost-of-living crisis". She said: "The real living wage remains the only UK wage rate calculated based on actual living costs, and the new rates announced today will make a massive difference to almost half a million workers who will see their pay increase."

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IKEA is among the companies to have joined the campaign. Darren Taylor, country people and culture manager at furniture retailer the Swedish furniture giant, said: “A business’s success is purely driven by its people, and as a values-driven company we care about our co-workers and their wellbeing. "

"That’s why we’re committed to pay our co-workers a Real Living Wage that creates a fairer, inclusive and healthier standard of living for the many." The campaign stated: "The real Living Wage is the only UK wage rate based on the cost of living. It is voluntarily paid by over 15,000 UK businesses who believe their staff deserve a wage which meets everyday needs - like the weekly shop, or a surprise trip to the dentist.

"Over 460,000 employees have received a pay rise as a result of the Living Wage campaign and we enjoy cross-party support. We have a broad range of employers accredited with the Foundation including half of the FTSE 100 and big household names including Nationwide, Google, LUSH, Everton FC and Chelsea FC, as well as thousands of SMEs.

"The Living Wage rates for 2024-25 were announced on the 23 October."