The ThunderDragon: Minimum Wage

06 March 2008

Minimum Wage

The minimum wage. It's all well and good.

But raising it to £5.73 just when economic turmoil is predicted to about to strike is an exercise in sheer stupidity.

The a higher minimum wage will mean that those in work get paid a little bit more. But it doesn't help those not in work get a job. In fact, the very opposite. After all, if your current workforce is costing you more without any increase in output or efficiency, you're hardly going to increase it.

Raising the minimum wage won't do what the Unison general secretary wants and "protect the poor from the constant price rises in essentials like fuel, food and housing" but the very opposite [yet again], and drive those very same people into problems with paying for essentials such as fuel and food. After all, who produces these things? Yes, those working on [or close to] minimum wage. And if the cost of their labour goes up, so will the price of their product.

So no benefits will be achieved from this raise, bar fewer recruitments and maybe some redundancies.

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