Fair wages would boost the economy by nearly £2billion

PAYING just a quarter of low-paid workers the Real Living Wage could pump £1.7billion back into the faltering economy, research reveals today.

The move would boost productivity and spending, says the study for the Living Wage Foundation.

It is urging bosses to back the pay rise so staff get more than the legal minimum, amid the cost of living crisis and 10.1%

GAINS Katherine Chapman inflation. Foundation director Katherine Chapman said: “Paying the Real Living Wage isn’t just right for workers, it’s good for business and the economy. Through increased spending and productivity gains, it supports a high-wage, high-growth economy that we all want to see.”

The Real Living Wage is £10.90 an hour, rising to £11.95 in London, where costs are higher.

The Government’s National Living Wage is £9.50 an hour.