More than 5m workers earn less than ‘living wage’
While the economy is showing positive signs of recovery, many workers are failing to benefit from it and remain at risk of receiving a statutory demand.
According to an independent commission, chaired by the Archbishop of York John Sentamu, there are more five million workers who are not paid a ‘living wage’.
As a result they are struggling to keep their heads above water as everyday items such as food, gas and electricity continue to rise. Food now costs 44% more than it did in 2005 while energy prices have doubled.
The current rate of a living wage for the UK is £7.65 an hour, rising to £8.80 an hour in London. This is £1.34 and £2.49 more than the legal UK minimum wage respectively. Over the course of a 35-hour working week this deficit grows to £46.90 and £87.15 and monthly £187.60 and £348.60.
Frances O’Grady is the General Secretary of the Trades Union Congress (TUC):
“The UK economy may be in recovery mode, but most people’s pay packets have yet to experience a similar revival. For those families firmly stuck in low-pay Britain, life is tough, and they continue to struggle to make wages stretch far enough to meet the cost of food, fuel and other essentials.”
It’s a situation which Statutory Demands Solicitor Andrew Watson is sadly all too familiar with:
“It’s really saddening to see the gulf between minimum wage and the actual cost of living, particularly for those living in the capital. Seeing these figures and the obvious gaps here in black and white it is easy to understand why so many households are struggling and why many are on the receiving end of statutory demand.
“But receiving a statutory demand doesn’t mean the end of the line. We may be able to help you avoid bankruptcy by having the debt set aside or by negotiating a reduction. Contact us immediately to see if we can throw you a life ring.”
Content correct at time of publication