London Living Wage (4)

Meeting: 
MQT on 2013-12-18
Session date: 
December 18, 2013
Reference: 
2013/4941
Question By: 
Fiona Twycross
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In your '2020 Vision' you state that the London Living Wage should be "the norm" in London by 2020. Do you believe that (at least the vast majority) of London employers can afford to pay it?

Answer

Answer for London Living Wage (4)

Answer for London Living Wage (4)

Answered By: 
The Mayor

The message I am highlighting to businesses is the London Living Wage makes good business sense. Independent research from Queen Mary, University of London has clearly established the tangible benefits to accredited employers beyond improved reputation, in terms of increased productivity, improved staff morale and decreased staff turnover. These benefits, already being enjoyed by the 214 accredited employers in London, make the argument that the vast majority of businesses can afford to pay the living wage clear.