The cost of living is rising, but not everyone’s wages are keeping pace.
The issue of low pay in the UK is a contentious one. While the National Minimum Wage (This link will open in a new window), which now stands at £6.50 per hour for those aged 21 and over, is recognised as having helped to eradicate very low pay, many feel it still doesn’t go far enough.
The Living Wage (This link will open in a new window) was launched in 2001 in an attempt to reflect the true cost of living today in the UK. Unlike the Minimum Wage, employers aren’t required to pay it, but it’s becoming more popular among businesses as they come to recognise its benefits. Living Wage advocates say it makes ethical and moral sense: good for families, good for society.
The difference between the Living Wage and the National Minimum Wage, which could add up to over £140 a month, according to April 2014 research (This link will open in a new window) commissioned by Nationwide and the Living Wage Foundation, should really help towards food and bills, and allow people to save. Take a look at the results of our poll in the infographic below.