Campaign to encrouage business to apply standardised living wages

A living wage is being pushed at UK companies by a group of investors that have £13bn and are holding a rally, the investor coalition is lobbying over 100 UK businesses to improve employee salaries. The coalition is led by philanthropists and religious groups in the US and UK.

All 100 companies CEO’s will receive a letter from the group requesting that they apply standardised living wages. They are saying that £7.20 per hour should be the floor wage everywhere outside of London and the £7.85 in the capital.

They describe the living wage as what an individual needs to earn in order to cover their basic needs and nothing more. This campaign has been in existence for 10 years and groups such as the Methodist Church and the Joseph Rowntree Charitable Trust and Unison and Unite are part of the campaign.

Together the group has over £13bn under their management and that includes shares in major corporations around the world. They estimate that there over 3.5 million people that earn less than £7 an hour in the UK. The current minimum wage for adults in the UK is £5.93 an hour.

The campaign is managed by the FairPensions organisation. Their chief executive Catherine Howarth says that the ever increasing wage inequality in Britain’s largest firms is very disheartening and there has not been an effective way to get our voices heard up until now.

They plan in the coming months to raise the wage topic at annual general meetings at many major companies. They have already been to shareholders meetings at Royal Bank and Barclays and in the next couple of weeks plan on being at the meetings of Capita, Arriva, GSK and others.