Compass Group

Questions to the Mayor of London – answered on 21 November 2022.

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Photo of Tony Devenish Tony Devenish Conservative

Given your responsibility to support London’s economy, will you investigate Compass Group’s reported scheme to offer to merge any high interest rate debts of their 50,000, mainly modest waged UK staff, and in your view is this approach more widely applicable?

Photo of Sadiq Khan Sadiq Khan Mayor of London

I am supportive of any steps employers can take to alleviate the burden of debt on their employees and promote financial well-being, starting with paying a Living Wage.

My Good Work Standard encourages employers to offer debt, money and savings advice services to workers, signposting to relevant organisations who offer specialised advice, such as Credit Unions. They should also offer a range of employee benefits that help workers make their pay packets go further, such as discounts at local retailers or interest-free loans for housing and travel costs.

These approaches are applicable across London’s economy. Over 240,000 Londoners now work for a Good Work Standard employer, for 113 employers across a wide range of sectors. I call on all employers to pursue accreditation.