MSE News: Minimum wage to rise 3%

jamesd

bluenoseam wrote: »

It was done so they could laud something "we cut the tax of the lowest paid in society" when the reality is they also cut the tax of the richest in society as well

It's not true that what I think many would regard as the richest have had a cut as well as those who are low paid.

The real income tax rate on a real income of £20,000 fell to 75% of its 2005 value by 2010/11 and to 35% for 2015/16. Real income tax on a real income of £120k had fallen to 97% of its 2005/6 level by 2010/11 but was subsequently increased and will be 103% for 2015/6.

So those on £20,000 in 2005 money have seen their income tax bill cut to just 33% of what it was while those on £120 have an increase of 3%.

There are other definitions of richest but say it's assets, the increase in say the stamp duty for costly properties will hurt and lower income people will be helped by it.

Newwashingmachine

So will the 'Living Wage' go up as well?

scooby088

The is negated by the rise in council tax, road tax, utility, water, even everyday shopping, so 20p a hour wont make any difference even the living wage wouldnt make anything better.

[Deleted User]

I was thinking food shopping had lowered, my council tax bill has come in about the same as last year (thank god!)
Although it's the other bills for me and my current payment
method : (
though I've stopped thinking about it now, still got questions I want to ask a Judge

asajj

jamesd wrote: »

I know Labour policy is to try to portray the current government as being bad for "workers" but the huge increase in the personal allowance has been great news for low earners.

It is not Labour policy - it is politics. You see all of them throwing mud each other.

Also cost of living is increasing.

On the other hand, there are economic arguments about having a minimum wage is being actually bad for the economy but that's another issue.

jamesd

Mud throwing is expected but not lying to the electorate about what other politicians have said. Sadly the leader of the Labour party repeated this lie today in his response to the budget.

I dislike dishonest politicians and am much less likely to vote for them or their parties.

asajj

Osborne didn't really "promise" but he said he wanted to see £7 minimum wage. So it is not really a "lie".

jamesd

There's a big difference between what he really did - saying that he thought it was affordable - and promising to do it.

MichaelJG

The minimum wage is a terrible idea that prices unskilled workers out of the market, thus increasing unemployment.

Like any price control, when you add an artificial price cap, you get shortages, and when you add a price floor, you get surpluses. And a labour surplus means unemployment.

See the short video "Edgar the Exploiter" on youtube.

mattcanary

MichaelJG wrote: »

The minimum wage is a terrible idea that prices unskilled workers out of the market, thus increasing unemployment.

Like any price control, when you add an artificial price cap, you get shortages, and when you add a price floor, you get surpluses. And a labour surplus means unemployment.

See the short video "Edgar the Exploiter" on youtube.

Could you survive on £6.50 an hour, in the UK out of interest?