Labour Party Leader, Ed Miliband, has said that if his party wins the next election he plans to introduce a new ‘living wage’ of at least £7.45 per hour, as part of his ‘One Nation’ vision for Britain.
Currently, the minimum wage in the UK sits at £6.19 per hour for those over 21, £4.98 for those over 18, and £3.68 for 16- and 17-year-olds. As such, Labour’s proposed ‘living wage’ would represent a significant increase for many workers.
The proposal would aim to make this new rate the norm across the UK, with government contracts being accessible only to companies that pay the living wage, and the ‘naming and shaming’ of companies who do not.
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