Pay· Living Wage What price a living wage? 7 May 2012 Matthew Pennycook Paying a living wage is affordable for big companies in UK banking, construction, computing and food production sectors, according to this new report jointly published by the think tanks Resolution Foundation and IPPR. This new analysis shows that the average increase in the wage bill for listed companies in these sectors would be about 1 per cent or less and argues that there is no business case for ignoring living wage campaigners. The living wage is currently set at £8.30 an hour in London and £7.20 outside London. More than 6 million people earn less than the Living Wage – around one in four UK workers.