The Mayor encourages London employers to pay staff the London Living Wage. Londoners face far higher living costs than people living in other regions, especially for housing and childcare. The Living Wage goes some way to reflecting this.
The wage is an hourly rate of pay, calculated according to a combination of the costs of living in London and 60% of the median wage. This gives the wage rate needed to give a worker in London enough to provide their family with the essentials of life, including a cushion against unforeseen events.
In November 2013, the London Living Wage was set at £8.80 for the coming year. Almost 200 London employers across all sectors are now paying the London Living Wage. A recent paper by Queen Mary University estimated that nearly 19,000 London workers have benefited.
The Mayor wants the London Living Wage to become the norm for employers in the city by 2020, to help hard working Londoners trying to make ends meet in an expensive city.
For more detail on how the London Living Wage is calculated and information on accredited employers read A Fairer London: The 2013 Living Wage in London.
Find out more on the Living Wage Foundation website.