The living wage is a voluntary rate of pay designed to help low-paid workers to afford a basic standard of living. The new rate is £8.55 an hour in London and £7.45 elsewhere. The adult minimum wage rate is £6.19 an hour.
Figures from the Office for National Statistics (ONS) show that the UK's biggest companies increased their cash reserves by over £80bn between 2007 and 2011. There is no excuse for cash-rich employers to deny low-paid staff a decent wage.