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04-Aug-08 11:15 [Pay and Reward]
Mayor: Living wage no risk to economy The mayor of London Boris Johnson has insisted that the London Living Wage will not be a risk to the economy or employment overall, a human resource news provider has reported.
Speaking to Personnel Today, Mr Johnson said that he did not believe there would be "much inflationary impact whatsoever" in his decision to raise the minimum wage in the capital from £7.20 to £7.45 an hour, nearly £2 higher than the national rate of £5.52.
The publication added that a poll by the London Chamber of Commerce found that 42 per cent of 275 employers would have to consider job cuts.
However, Mr Johnson added: "No-one is talking about compulsion. Businesses might actually find it cost-effective in making staff happier and more productive, and reducing staff turnover."
Last month, Caterersearch reported that the mayor had gone back on his promise that only those restaurants and hotels paying the London Living Wage would be promoted by Visit London before the 2012 Olympics in the city.
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