National Living Wage by then. A survey conducted in November 2015 by the Resolution Foundation and the Chartered Institute of Personnel and Development revealed that the policy is expected to have its greatest impact in the retail, hospitality and healthcare sectors. The policy has received criticism from some large employers, particularly supermarkets and the food and drink sector, where profits may be reduced by up to 10%. Some large employers have said that they may pass on the additional cost to consumers in the form of higher prices and some intend to improve productivity. The supermarket chain Lidl has said it will implement
Living wage as an income of 60% of the median, and an additional 15% to allow for unforeseen events. The living wage differs from the minimum wage in that the latter is set by national law and can fail to meet the requirements to have a basic quality of life which leaves the family to rely on government programs for additional income. Living wages, on the other hand, have typically only been adopted in municipalities. In economic terms, the living wage is similar to the minimum wage as it is a price floor for labor. In the 1990s, the first contemporary living