What I also don't understand is that salaries are getting lower, and hiring is getting harder. Anyone that has hired will appreciate how difficult it can be to get good developers. Given the long hours and need for learning in development it's shocking how low the salaries are, and how it's not talked about more often by UK developers.
The last time I was solely responsible for hiring was at a start-up that had just been acquired. I said that £25k was the bare minimum we should be offering for a junior to mid-level developer. We hired a really good developer, who now leads that team and landed another couple of pay rises (probably now earning a fair bit more than me). The start-up was acquired based on a product largely created by the developers, so we needed a strong developer to take over and I guarantee that if we offered the same low salary that others were offering the product would have been run into the ground.
It's really bad. In my mind, developers across the board should be on £5-10k more than they are, across the country. Hopefully within the next few years the tech industry will push towards better compensation, instead of thinking a drinks fridge and a ping pong table will win other twenty-somethings with no other commitment in life than to they hand their rent to.