The NEW real Living Wage rates for 2022-23 are out!
On 22 September, the Living Wage Foundation announced the new real Living Wage rates for 2022/23. Under normal circumstances, this would not have been revealed until Living Wage Week taking place between the 14-18 November. However, this year the decision was made to bring forward the announcement in in recognition of the sharp increase in living costs over the past year.
The new Living Wage rates rise to £10.90 an hour across the UK (a £1 increase), and £11.95 an hour in London (a 90p increase). This is the biggest year on year increase since the real Living Wage was introduced, and will directly benefit nearly 400,000 workers across 11,000 Living Wage employers in the UK. In Wales, approximately 18,000 workers will receive a vital cost-of-living pay boost thanks to the almost 500 Welsh employers, including Redrow Homes plc, Wales Millennium Centre and Burns Pet Food, who are all committed to paying all their staff a real Living Wage.
At this difficult time for employers and workers, the Living Wage is more important than ever and Living Wage Employers are encouraged to implement the new rates as soon as possible, however the backstop date of May 2023 remains the same as previous years. For more information, there will be a webinar on 29 September 2022.
For employers wishing to accredit or to find out more, please contact Grace Robinson [email protected]