INDUSTRY NEWS

City workers top pay poll

Employees working in City of London office space have the best salaries in the UK, according to the Halifax.

New analysis by the lender of national statistics revealed workers in the square mile earned more than any other London borough and county region.

Pulling in an average £82,084 they were paid more than workers in Tower Hamlets (£69,474), Westminster (£57,737) and Islington (£57,525).

“The biggest rises have been concentrated in a fairly limited number of local authorities in southern England,” noted chief economist Martin Ellis.

Nonetheless, workers across UK have also seen real improvements in pay.

Mr Ellis added: “Average earnings in Great Britain have risen by more than retail prices over the past five years, indicating an increase in living standards for the typical worker.”

London also enjoyed the highest pay increases (24 per cent) since 2003, followed closely by the east midlands and Scotland (23 per cent each).

City firms do sometimes pay a premium for their offices in London, however the latest data from the Royal Institution of Chartered Surveyors (Rics) found rental expectations are lower for the coming year.ADNFCR-1329-ID-18901591-ADNFCR