TBC.London is proud to announce it has successfully been accredited as a Living Wage Building, the first of its kind in Southwark. This achievement underscores our commitment to fostering a fair and equitable work environment.

The commitment means that all direct employees at the building and its suppliers and contractors agree to pay a minimum amount to their staff to address in-work poverty and ensure fair compensation. The three occupiers who have committed to lease space in the building have also agreed to pay their employees and contractors the Living Wage. TBC.London aims to have all occupiers make similar commitments.

The Real Living Wage, the only UK wage rate based on the actual cost of living, is set at £13.85 per hour for 2024-2025 in London.

Businesses that adopt the Living Wage report significant benefits, with 94% noting improvements in employer branding, talent attraction and retention, staff productivity, and motivation. Additionally, many companies find that paying the Living Wage enhances their ability to secure contracts and funding.

Once fully occupied, TBC.London will support up to 750 jobs, all benefiting from a Living Wage commitment. This initiative not only aids these individuals but also strengthens the local economy through increasing disposable income within the community.

The broader economic impact of fair pay practices is substantial. A key statistic evidencing this is that if 25% more workers were paid a real Living Wage, the UK economy would benefit by £1.7 billion. This highlights the importance of fair pay not just for individual workers, but for the economy as a whole. Currently, there are 15,000 Living Wage Employers across the UK, including half of the FTSE 100 and well-known brands such as Aviva, Burberry, KPMG, Linklaters, Nationwide, and Nestle. This growing movement underscores the widespread recognition of the importance of fair pay.

Southwark Council has also been recognised as a Living Wage Place, as the increase in Living Wage accreditations in the borough has resulted in an additional £4,700 annually for over 6,000 Southwark workers. TBC.London is proud to contribute to this positive change and to be part of a community that values fair pay.

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