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Cut in Minimum Wage
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[Deleted User]
Posts: 0 Newbie
I've just seen a link on a news website to a story in the FT headed "UK considers cut in minimum wage" - I can't open the link as I'm not an FT subscriber. Anyone know any more?
WR
WR
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oops - just seen there is a thread on this in DT! Apologies!
WR0 -
Is that the final nail being knocked into the Libdem coffin ?Minimum wage could be frozen or cut if it starts to cost jobs or damage economy, Government suggests
The minimum wage for millions of people could have to be capped or frozen in future if it risks damaging jobs or the economy, the Government has said.
http://www.telegraph.co.uk/news/9965039/Minimum-wage-could-be-frozen-or-cut-if-it-starts-to-cost-jobs-or-damage-economy-Government-suggests.html'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Calm down, it's only a possibility, not a definite."You were only supposed to blow the bl**dy doors off!!"0
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Problem is that in most cases it is topped up by benefits.0
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maninthestreet wrote: »Calm down, it's only a possibility, not a definite.
OK, possibly the last nail in the Libdem coffin
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Is that the final nail being knocked into the Libdem coffin ?
http://www.telegraph.co.uk/news/9965039/Minimum-wage-could-be-frozen-or-cut-if-it-starts-to-cost-jobs-or-damage-economy-Government-suggests.html
Sounds like a slow drift into communism as the state will effectively dictating the wages of great swathes of the public and then deciding how far to top them up. Food stamps now, state shops next with "wealthy" shops for those with hard currency."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Problem is that in most cases it is topped up by benefits.
In which case the benefits top up would be even bigger if the minimum wage was scrapped.
Private businesses would pay less and the state would be expected to plug the gap.0 -
when minimum wage was introduced, did it have any impact on things like consumer product or sevice costs?
I was too young to remember it when it was started
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If business cannot afford to pay the minimum wages, theen there is either a problem with:
A) The business and it's profit levels
The cost of living
C) Government taxes
It's not C, and in most cases, it's not A either. So were just left with B.
I don't see how reducing minimum wages and pumping up benefit payouts is going to help the actual problem. It just makes the problem worse, especially since we are already propping up so many, which in turn increases the price of goods above their natural level.
The cost of living is the elephant in the room that muct be looked at at some point.0 -
Doesn't really surprise me, wasn't it frozen in the last few years?
The minimum wage has always been set based on economic impact, nothing to do with standard of living, so this isn't really 'news'Faith, hope, charity, these three; but the greatest of these is charity.0
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