Small change, big difference, says KPMG
Mike Kelly, head of Living Wage at KPMG UK, comments on the new Living Wage rates announced today by the Living Wage Foundation and the Greater London Authority. He said:
“Today’s announcement will see a pay rise for approximately 68,000 employees that work for a Living Wage accredited businesses. The rise of more than two and a half percent in London (£9.15 to £9.40) and five percent nationally (£7.85 to £8.25) may seem like small change to some, but for many it’ll make a huge difference to their lives, helping escape in-work poverty.
“Only yesterday, KPMG research found that nearly six million people are still paid less than the Living Wage. With the cost of living higher than it’s ever been, the reality for many is that they are forced to live hand to mouth. Paying a Living Wage will save huge swathes of people being caught between the desire to contribute to society and the inability to afford to do so.
“This is the perfect opportunity for employers to consider whether they can join the growing list of businesses paying a Living Wage. It may not be possible or practical for everyone, but all organisations need to do what they can to address the problem of low pay. Of course, change cannot happen instantly, but making an initial assessment is an important first step.”
Notes to Editors:
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.