The Living Wage is an hourly rate set independently and updated annually and is calculated according to the basic cost of living using the ‘Minimum Income Standard’ for the UK.

Decisions about what to include in this standard are set by the public; it is a social consensus about what people need to make ends meet. Currently set at an hourly rate of £7.85 the Living Wage is significantly higher than the national minimum wage of £6.50.

Margaret Ross, chief executive of Waverley Housing, said: “We are delighted that Waverley Housing has been acknowledged as an accredited Living Wage employer and I understand we are the first employer in the Scottish Borders to receive this accreditation. We are an organisation with a strong social ethos. We believe that taking care of our employees leads to a more motivated workforce, which is ultimately better for our business, our customers and the communities we serve.”

Employers choose to pay the Living Wage on a voluntary basis. The Living Wage enjoys cross party support, in both the Scottish and Westminster parliaments.

Living Wage Foundation director, Rhys Moore said: “We are delighted to welcome Waverley Housing to the Living Wage movement as an accredited employer.

“The best employers are voluntarily signing up to pay the Living Wage now. The Living Wage is a robust calculation that reflects the real cost of living, rewarding a hard day’s work with a fair day’s pay.

“We have accredited over 1,200 leading employers, including Waverley Housing, ranging from independent printers, bookshops and breweries, to well-known companies such as Nationwide, Aviva and SSE. These businesses recognise that clinging to the national minimum wage is not good for business. Customers expect better than that.”