One of Britain’s most historic markets has become Britain’s 2,500th Living Wage employer.
London’s 1,002-year-old Borough Market agreed to pay workers the “real” Living Wage rate, which is £2.20 an hour more than George Osborne’s national living wage.
Living Wage Foundation Director Katherine Chapman hailed the move saying: “We are thrilled to reach the target of 2,500 accredited Living Wage employers.
“This is a wonderful milestone for the Living Wage campaign and I hope it’s the start of other such iconic markets and eventually their traders signing up as Living Wage employers.
“As an accredited employer, Borough Market joins other household names like Ikea, Nationwide and Oliver Bonas as well as local butchers, bakers and candlestick makers across the UK.”
Living Wage workers in London pocket £9.40 an hour while those outside the capital are paid £8.25.
Independent experts calculate the rate taking into account housing, travel, healthy food and extras like kids’ birthday presents.
In contrast, the Chancellor’s national living wage is just £7.20 an hour and, campaigners say, is simply a re-branded, new, legal minimum.
Borough Market Trustees chairman Donald Hyslop said: “Borough Market strongly advocates a more sustainable approach to food production, which means looking closely at things like farming methods, animal welfare and waste disposal - but it’s also about valuing people.
“For a business to be truly sustainable, it is imperative that it respects and nurtures the talents of its staff, and one of the key elements of that is paying them a fair wage.
“As trustees, we are responsible for ensuring that this historic market continues to thrive long into the future, and we believe that this accreditation is an important step.”
Living Wage employers signed up to the scheme report 80% increases in productivity, reduced absenteeism and staff turnover, and boosts to workers’ morale.
It was launched in 2011 and has netted a string of high profile victories of the past five years.
The announcement of Borough Market’s decision came at last night’s London Mayoral Accountability Assembly, organised by campaign group London Citizens - an offshoot of Citizens UK.
The event saw mayoral candidates, including Tory Zac Goldsmith and Labour’s Sadiq Khan , quizzed by grassroots activists.