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More South West companies should be Living Wage employers, says TUC

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Written by: The Business | Posted 06 November 2017 7:07

More South West companies should be Living Wage employers, says TUC

The Living Wage Foundation has today (Monday) announced that the Living Wage will increase by 30p to £8.75 per hour.

According to the Living Wage Foundation, unlike the Government’s “living wage” its figure calculates 'an independent rate based on what working people need to live on'.

Nigel Costley,TUC regional secretary, said: “Extending the Living Wage is vital. Many people are living in poverty despite being part of working households.

"The new rate would make a huge difference to lowest-paid workers in the South West. And it would help families keep their heads above water rather than turning to pay-day loans and credit cards.

“But more companies need to sign up. Profits in the UK are at record levels. Yet many bosses are still refusing to invest in their staff.

“Smart employers know the value of paying the real Living Wage. It reduces staff turnover, absenteeism, and boosts productivity levels.”

- The calculation of the independent Living Wage rates is overseen by the Living Wage Commission, based on the best available evidence on living standards in London and the UK.

- According to ONS figures, UK corporate profitability stands at 12.7%, close to the highest recorded level (13%) in 2014. Source: bit.ly/2xJ9qpa

- The TUC is itself an accredited living wage employer, with all staff paid above the living wage.

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