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Living Wage | Supporting the campaign for fair pay

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Summary

Coutts Foundation helps fund drive to encourage more organisations to pay a real Living Wage.

1 min read

The Coutts Foundation, which works to tackle the causes and consequences of poverty in communities where Coutts has a presence, has been supporting a UK-wide campaign to help eradicate in-work poverty.

Run by the Living Wage Foundation, the initiative encourages employers to pay a “real Living Wage” – an hourly rate calculated by looking at the basic cost of living to see what people must earn to make ends meet.

Research last year by KPMG found that one in five employees in the UK is still earning below this rate, which means around 5.5 million people are experiencing in-work poverty.

Organisations voluntarily sign up to pay the real Living Wage and so far more than 4,700 across the country have done so, including Coutts.

 

Three-year grant

In 2016, the Coutts Foundation awarded a three-year grant totalling £150,000 to the Living Wage Foundation.

Coutts Foundation trustee Lenka Setkova says, “The Living Wage Foundation has made a material difference to the lives of thousands of people in low-income jobs, increasing the number of accredited Living Wage employers by around 2,600 since the Coutts Foundation first awarded its grant. Research shows that, as well as being good for society, paying a real Living Wage is also good for business.”

She adds: “The Coutts Foundation is very proud of the support it has given to help encourage more employers to become accredited Living Wage employers. The Coutts Foundation is also an accredited Living Wage Friendly Funder, demonstrating its commitment to help tackle low-pay in the charitable sector.”

“The Living Wage Foundation has made a material difference to the lives of thousands of people in low-income jobs.”
Lenka Setkova, Coutts Foundation trustee

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Raised rates

As part of Living Wage Week, which ends today (Friday, 9 November), the Living Wage Foundation announced its hourly rate for employees aged 18 and over across the UK had risen by 25p to £9 an hour, £1.17 higher than the government’s 2018/19 national living wage. Meanwhile, London Mayor Sadiq Khan announced that the capital’s rate was rising to £10.55 from £10.20 an hour – £2.72 higher than the 2018/19 government number.

It means more than 180,000 workers across the country are set for a pay rise.

 

The Coutts Foundation

The Coutts Foundation’s mission builds on the legacy of Angela Burdett-Coutts, the grand-daughter of Thomas Coutts, who was a progressive 19th-century philanthropist concerned with breaking cycles of poverty. The foundation focuses on supporting organisations that tackle poverty and disadvantage experienced by  women and girls in the UK. Coutts is the primary funder of the Coutts Foundation.

 

More information:

Coutts Charitable Foundation is a registered charity with the Charity Commission of England and Wales (registration number: 1150784) and a company limited by guarantee (number: 8395296) Registered office 440 Strand, London WC2R 0QS. To read more about the Coutts Foundation’s pro-active approach to philanthropy go to www.coutts.com/foundation. The Coutts Foundation is an accredited Living Wage Friendly Funder.

Disclaimer: Organisations discussed are not endorsed by Coutts and this information does not constitute a recommendation for funding or investment. Risks associated with supporting or investing in organisations referenced remain the donor's own responsibility.

Key Takeaways

The Coutts Foundation works to tackle the causes and consequences of poverty in communities where Coutts has a presence.

It has been supporting a UK-wide campaign to help people escape in-work poverty by encouraging employers to pay what the Living Wage Foundation calls a real Living Wage – an hourly rate based on the basic cost of living.

The campaign is run by the Living Wage Foundation, which announced this week that the rate is rising. The news means a pay rise for more than 180,000 workers across the country.

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