Quote:
Originally Posted by Pierre
Did I read that right, a national minimum wage of £15 PPH, £ 28,890 per year!
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And of course the differentials will have to be maintained, so somebody in a supervisory role will have to be paid more than £15/hr. Then if this is to be the minimum wage, just think what the "Living Wage" will be. More Final Salary schemes will fail as the Final salary paid out has jumped upwards without the supporting money having been paid in the past.
The average wage will shoot upwards, bringing with it the ludicrous definition of the poverty level, meaning whole hordes of people will be defined as being in "poverty", without pay going down or prices going up. Those on this new minimum wage will still be classed as being in poverty.
Those currently above the poverty level will suddenly be drawn in below the new level.
Who in their right mind would want to start up a business in this country, that could be started elsewhere. You can't expect long-term investment, if even the short-term is so unknown.