The agreement covers all those employed by the firm, from permanent staff to those working for contractors being paid at least the living wage, which is significantly higher than the current national minimum wage of £6.31. The living wage is also an improvement on the company’s previous minimum hourly rate of £8.27. The London Living Wage is set by the Greater London Authority and is currently £8.80 per hour, while the UK Living Wage is £7.65 an hour.
CEO of Canary Wharf Group, Sir George Iacobescu, said: ”We’re proud to be taking the lead on this initiative in our industry.
“The decision to pay a Living Wage underlines our appreciation of each and every member of staff and the communities around all our London developments from which many of our colleagues come.”
Canary Wharf Group will become the first major UK property and construction business to receive accreditation as a London Living Wage employer, after years of effort from the company to finally achieve this goal.
“This brings the Living Wage to a new sector,” added director of the Living Wage Foundation Rhys Moore. “We anticipate that the leadership this commitment has shown will encourage others in the development and construction industry to consider how they reward the lowest paid members of their work force, and help tackle in-work poverty in the UK.”
Moore emphasised the initiative taken by companies to voluntarily elect to become part of the London Living Wage set, while the Mayor of London, Boris Johnson, hoped that other companies in the sector would follow suite.