Friday 21 July 2023
London Chamber of Commerce and Industry (LCCI) is now officially accredited as a Living Wage Employer. The Living Wage commitment will ensure that everyone working at LCCI receives a minimum hourly wage of £11.95, significantly higher than the government minimum for those over the age of 23, which currently stands at £10.42 per hour.
LCCI is based in the heart of London, a region where 13.6% of all jobs pay less than the real Living Wage – that’s 575,000 jobs. LCCI is therefore, committed to pay the real Living Wage and deliver a fair day’s pay for a hard day’s work.
The real Living Wage is the only rate calculated according to the costs of living. It provides a voluntary benchmark for employers that wish to ensure their staff earn a wage they can live on, not just the government minimum. Since 2011 the Living Wage movement has delivered a pay rise to over 450,000 people and put over £2 billion extra into the pockets of low paid workers.
Richard Burge, Chief Executive Officer at London Chamber of Commerce and Industry (LCCI) said:
“London Chamber has always expressed its concerns and prioritised employee well-being and motivation at workplace over any other factor. Our job is to bring changes at the ground level not just through advocating on behalf of thousands of London businesses but to also set a good example back home.
I am proud of all LCCI members who are great assets to the team and make this Chamber what it is today. The Living Wage Accreditation is proof of our dedication and commitment to improving working conditions, boosting productivity, retaining staff and encouraging other employers to do the same.”
Katherine Chapman, Director, Living Wage Foundation said:
“We’re delighted that London Chamber of Commerce and Industry has joined the movement of over 12,000 responsible employers across the UK who voluntarily commit to go further than the government minimum to make sure all their staff earn enough to live on.
“They join thousands of small businesses, as well as household names such as Burberry, Barclays, Everton Football Club and many more. These businesses recognise that paying the real Living Wage is the mark of a responsible employer and they, like LCCI, believe that a hard day’s work deserves a fair day’s pay."
The UK Living Wage is currently £10.90 per hour. There is a separate London Living Wage rate of £11.95 per hour to reflect the higher costs of transport, childcare and housing in the capital. These figures are calculated annually by the Resolution Foundation and overseen by the Living Wage Commission, based on the best available evidence on living standards in London and the UK.
ENDS
About the Living Wage Foundation
The Living Wage Foundation is the organisation at the heart of the movement of businesses, organisations and individuals who campaign for the simple idea that a hard day’s work deserves a fair day’s pay. The Living Wage Foundation receives guidance and advice from the Living Wage Advisory Council. The Foundation is supported by our principal partners: Aviva; IKEA; Joseph Rowntree Foundation; KPMG; Linklaters; Nationwide; Nestle; Resolution Foundation; Oxfam; Trust for London; People’s Health Trust; and Queen Mary University of London. Read more about it here.
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