Bah humbug! - The British Chambers of Commerce (BCC) has called for the minimum wage not to be increased until "economic situations had significantly improved". The minimum wage for employees over 21 increased by 3.8% in October 2008 to £5.73 per hour. It is £4.77 for workers aged between 18-21 and £3.53 for staff aged 16-17. Obviously a huge and unaffordable amount of money!
They claim that a rise in minimum wage would not help firms hold onto staff and would simply add to unemployment
David Frost, British Chambers of Commerce (Minimum wage goes up to £5.73) said : "We're not opposed to the minimum wage going up when employment is high and the economy is doing well, but when jobs are being lost daily and a recession is in full swing, it makes no sense to increase it."
I notice that he hasn't called for restraint by Executives on the money and perks they award themselves? Surely the more the minimum wage is increased then the more likely that the economy will get moving again since those on NMW are more likely to spend and increase much needed demand?
Remember the rubbish predictions that the employer representatives made about likely job loses when the NMW was first announced? See http://news.bbc.co.uk/1/hi/uk/35036.stm
7 comments:
i would happily agree to a freeze
if directors wouls and also tie future pay rises to theirs and my pension
is that a deal
No great surprise that this call is being made!
Odd that during the good times, arguments were still being used against increasing pay for the lowest-paid workers.
As our economy has become more dependent upon spending in retail and service sectors, it makes no sense to freeze or cut wages as this will make the downturn worse...
I would happily agree to a freeze if public sector workers would agree to freeze their fantastic index linked pensions.
We don't actually live in a dictatorship..if you want more money use your skills to get more...if you have any.
Why just public sector workers pensions out of interest? There are still many private sector workers with final salary schemes.
I think we ought to focus on improving private sector schemes, rather than knackering the good ones that still exist.
Hear, hear Tom. The silence is deafening
Surely the more the minimum wage is increased then the more likely that the economy will get moving again since those on NMW are more likely to spend and increase much needed demand?
What ever you take, I want some. Do you snort it or smoke it?
Seriously though, CEO's and Execs would be best served by leading by example.
Hi Anon
True, but I'm not holding my breath.
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