Canary Wharf Group is first property and construction company to make Living Wage commitment
We are pleased to announce that today, 22 September, Canary Wharf Group has become the first major UK Property and Construction company to be accredited as a London Living Wage employer. This is the culmination of several years’ effort to realise the Group’s longstanding commitment to this goal.
The London Living Wage commitment will ensure that everyone working for Canary Wharf Group, regardless of whether they are permanent employees or contractors, receives a minimum hourly wage of £8.80, significantly above the national minimum wage of £6.31.
Sir George Iacobescu, CEO and Chairman of Canary Wharf Group said: “We are tremendously proud to be the first major UK developer and construction company to have received this accreditation. 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. We’re proud to be taking the lead on this initiative in our industry.”
Camille Waxer, Chief Administrative Officer of Canary Wharf Group said: “We’re very pleased that all the hard work colleagues across the company have put into securing our status as a Living Wage employer has finally come to fruition today. It has taken several years to achieve this milestone. We pride ourselves on being a good employer and today’s accreditation is a testament to our unwavering ethos.”
The Mayor of London, Boris Johnson, said: “Paying the London Living Wage ensures hard working Londoners are helped to make ends meet, providing a boost not only for their personal quality of life but delivering indisputable economic dividends to employers too. This in turn is good for London’s productivity and growth. It is extremely heartening to see Canary Wharf Group signed up and I hope this spurs on even more organisations to do the right thing.”
Rhys Moore, Director of the Living Wage Foundation, said: “We are delighted to welcome Canary Wharf Group to the Living Wage movement. This brings the Living Wage to a new sector and to some of the most iconic development sites in the capital, such as Canary Wharf, 20 Fenchurch Street in the City and Shell Centre on the Southbank.
“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. The best employers are voluntarily signing up to pay the Living Wage now. The Living Wage is a robust calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day’s pay.”
In London the Living Wage is set annually by the Greater London Authority and covers all boroughs in Greater London. It is based on a combination of a basic living costs approach and income distribution, with respect to a variety of household types which takes account the unique circumstances of living in London, for example lower car usage and higher general cost of living than the rest of the UK.
Employers choose to pay the Living Wage on a voluntary basis. The concept enjoys cross party support, with public backing from the Mayor, the Prime Minister and the Leader of the Opposition.