That the Parliament notes that the living wage is formulated by an independent cost-of-living calculation conducted by the Centre for Research in Social Policy; understands that this calculation seeks to work out what wage a person needs to earn in order to live; believes that the meaning of the term “living wage” should not be subverted as it considers is being attempted by the Chancellor; considers that £7.20 cannot be described as a national living wage; understands that a recent study by KPMG showed that increasing the minimum wage of £6.50 to the living wage of £7.85 would lift six million people out of poverty, and hopes that in future all workers will be able to earn at least enough to live on.