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This is because it had considerable impact on family life, health, civility, parenting and academic achievement.
Since the implementation of the London Living Wage campaign in 2001, majority of the lowly paid employees have advocated for them to be paid the living wage. The living wage is not only of benefit to the employees, but also to the employers. In this study, we considered the impact of London Living Wage on the banking sector. Employers in this sector benefit by; improvement in the employees’ morale, recruitment and retention of workers, increase the overall productivity of the firm, workers motivation and also on the goodwill of the firm as a whole. Employees will also benefit through better working conditions and improved living standards and life styles. This has enabled them manage their bills accurately, pay for tuition and further training and have a better family life.
Living wage can be defined as, a wage rate sufficient to provide and meet the necessities and other social amenities that are essential, at an acceptable standard of living. There is a distinction between living wage and minimum wage. Minimum wage is defined as a wage determined by the legal authority which employers cannot pay their employees below it (Waltman, 2008). On the other hand, the London Living Wage is the threshold at which individuals can live above the poverty line, and they can have sufficient net to provide and maintain a quality life (Luce, 2005).
The first campaign of LLW was launched in 2001 by London citizens. They included; schools, faith organizations, community groups and trade union branches. They argued that low income had effects on the community as a whole. This is because it had considerable impact on family life, health, civility, parenting and academic achievement. The main aim of the campaign was to establish a living wage that was distinct from the already existing legal obligatory minimum wage. They argued that
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Historians consider this as a period of gradual transition impacted by several crises which eventually led to the stabler and more prosperous situation of the later seventeenth century. The processes of economic, demographic and social changes were based on several underlying causes.
The United Kingdom economy has been among the best performing economies in the world for a long time. During the period that lasted from 1990 to 2008, the U.K. economy comfortably managed a 2.3% GDP growth factor.
At the end of the Second World War, most of Europe, including Britain lay in ruins. The war caused much physical and economic devastation to the country and it basically lost its edge as one of the world’s superpowers. In the years following the Second World War, changes in the population, economy, and social structure of London became apparent.
The city was selected as host city after winning over other bidders like Moscow, New York City, Madrid and Paris in 2005. Due to this event, various developments and redevelopments have been and are being carried out in London. Venues which were considered include the Wembley Stadium, Wembley Arena, Wimbledon All England Club, Lord’s Cricket Ground, the O2 Arena, Earls Court Exhibition Centre, and the Excel Centre among others.
This is in relation to the economy and infrastructure, as well as labour and the people where the games are expected to have benefited the UK. The impact of the Olympic Games to United Kingdom will ever be felt and seen even after the games ended in relation to economic advancements, developments and features, which include unmatched infrastructure and other economic impacts.
This has contributed to the making of London as a major economic powerhouse through the acceleration of international economic integration as well as the move towards a service oriented economy in which London had established strength that breeds a virtuous circle.
Statistics reveal that sales in the auction market of London have risen to 93% since 2001, making London the center of Europe's art market. UK alone accounts for over 50% of the European art market1. With post war and modern sales at Christie's going from 9 million to over 30 million in a short span of three years, London has today emerged as the second largest art market after New York.
Nonetheless the urban centre was reconstructed so fast and nominated as Roman town and in a decade or so it had recovered; it grew even unexpectedly the following decade. Londinium attained its peak in the second century, replacing Colchester which at that time was the Capital city.
s part of the Tower of London, which is considered a symbol of royalty because it has served different strategic purposes since it was built in the 11th Century. The Tower Bridge structure has served as the headquarters of several state institutions, a military base, a prison,
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