Boris Johnson has joined Labour's calls for businesses voluntarily to pay higher wages, as people need to earn at least £7.45 an hour to have a decent quality of life.
The wage needed to keep up an "acceptable" standard of living has risen from £7.20 to £7.45 in the last year, according to experts. In London, it rose from £8.30 to £8.55, because of the higher cost of living in the capital.
The London Mayor, who is tipped as a future Conservative leader, urged businesses to "wake up to the huge benefits that paying the living wage delivers”.Bad economics, but good politics? Successful businesses already know the benefits of a high quality work force, and that you get what you pay for. They also know that it isn't wise to let politicians run your business for you, but prudence dictates not saying so publicly.