Major UK investors join push for retail giants to pay workers ‘real living wage’

Axa and Scottish Widows back ShareAction campaign for chains such as Next to pay at least 12.60 an hour

Major investors including Axa and Scottish Widows are backing shareholder resolutions pressing retailers Next, Marks & Spencer and JD Sports to increase pay for thousands of workers.

More than 100 individuals and eight institutional investors, which manage over 1tn in assets, are backing an effort to encourage companies to pay a real living wage", which is designed to ensure workers can cover necessary household costs.