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Debate House Prices
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The Minimum wage
Comments
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vulcan1964 wrote: »Lets go the whole hog then...bring back child labour, abolish all employment laws of H&S and working hours and bring back the workhouses. All in the name of profit.
It is very easy to say remove the minimum wage if you are not on it and you are not likely to be affected by it
My op wasnt actually driven by thoughts on profit, it was actually after reading the thread on the food banks
If we had no minimum wage, we might have more employment, and a lower cost of living0 -
jamesmorgan wrote: »Of course there is an unlimited amount of potential work - there may not, however, be an unlimited amount of workers willing to do that work at a salary that makes a profit for the employer. People confuse unemployment with a lack of work - in practice it is a lack of workers willing to undertake work at a salary that generates profit. This is a particular issue in an economic downturn when worker productivity decreases but they are not willing to accept a lower salary to reflect this.
Sorry but the idea that there is an unlimited amount of work to do is fundamentally a load of old carp- as it assumes that there is infinite demand and an infinite amount of money circulating.
Tescos wouldn't suddenly employ 300,000 more people even if those people were willing to work for free, as there is a limited amount of food that people will buy.0 -
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Graham_Devon wrote: »Nothing.
This is a case whereby house prices would simply rise to swallow up the additional income. Therefore back to square one.
Can you explain why0 -
Can you explain why
Easily.
Greedy BTL landlords would jack up the rents.
Everything would go up remember. Every service fee would go up, mortgage rates would probably go up, as banks would have to pay thousands of staff a new rate.
It's more a case of trying to explain why landlords wouldn't increase their prices when everything else, including the services they pay for go up around them.
The idea that you could pay receptionists in a hospital the same as an entry level nurse and the nurse wouldn't therefore expect to be realigned is a falicy. All this would achieve is to put the cost of absolutely everything up.0 -
Graham_Devon wrote: »Easily.
Greedy BTL landlords would jack up the rents.
Everything would go up remember. Every service fee would go up, mortgage rates would probably go up, as banks would have to pay thousands of staff a new rate.
It's more a case of trying to explain why landlords wouldn't increase their prices when everything else, including the services they pay for go up around them.
The idea that you could pay receptionists in a hospital the same as an entry level nurse and the nurse wouldn't therefore expect to be realigned is a falicy. All this would achieve is to put the cost of absolutely everything up.
If they did do it which obviously they won't it would effectively devalued the £ as wages and therefore prices increased. But if they kept LHA rules the same rent would not increase..0 -
Why is that? those wages are probably topped up with benefits anyway.
Only if you've got kids.
Most people earn more than the minimum wage.
According to the Indie, about 1,000,000 were receiving the minimum wage in 2010 (link). According to the Government there were about 30,000,000 in employment in November 2011 so less than 3.5% of workers are on the minimum wage.
Also, it is likely that the majority of people on the minimum wage are younger workers as they are less likely to have the skills required to earn more.0 -
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I wonder how many people advocating the abolition of the minimum wage are on it or think they will ever be on it.
The minimum wage is not £6.08 for everyone its £4.98 for 18 to 20 year olds and £3.68 for 16 & 17 years olds with a lower rate still for apprentices.
There's no call for polluting this debate with facts.1. The house price crash will begin.
2. There will be a dead cat bounce.
3. The second leg down will commence.
4. I will buy your house for a song.0 -
Would that be Piotr, Gabriela or Roman by any chance
I'm not sure your point; are they lesser people in your mind that others?
my point is that we stop (make illegal) some people's choice to work while encouraging other people to remain idle.
It's a point worth thinking about; liberty is worth something0
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