Boris Johnson has announced the London living wage is to increase to £8.55.
The minimum wage which companies must pay their staff by law is £6.19 an hour.
But the living wage – calculated as the amount needed to ensure a basic standard of living - is now £8.55 - up from the previous £8.30. This is a pound more than in the rest of the country.
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The work, called Gift Horse, replaces the giant blue cockerel that previously sat on the plinth.
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