Quote Originally Posted by regis80 View Post
This is all about economics baggieal. Before the pandemic the unemployment rate was 4%, it currently stands at 4.7% and is expected to go up to 5% after furlough ends. I did a quick check and those figures are from ONS for what the rate is now and an article saying what it was pre-pandemic.
The 4.7% represents about 1.2m out of work (from what I read, sorry too lazy to go back an check as writing off my mobile). Split that 1.2m around the UK, you wonder how much of an impact that is having locally.
Anyway thinking a loud, that 0.7% difference - is it really worth upping the wage for this minute working force from say £9 an hour to £15 an hour? That’s a 67% rise in wages? Would you really consider a 67% rise in wages? Who would? It’s a huge amount. Business owners rightly so have to return profit this is a big hit if you employ a decent number of staff. i’m more for a local business than those like amazon you mention. If you up the wage in one sector it will only move the issue elsewhere (labour and price elasticity if demand). Anyway just some thought from me.

Get your point Regis but as a business owner I would look at the extra paid to staff over a day and then equate that to what I would lose if the business was running at half throttle or like a lot of businesses would close. I can assure you several businesses I know reluctantly are paying this wage to get good staff and take advantage of the huge increase in people not holidaying overseas.

To turn your argument around - lets say I am a poorly paid NHS worker who Boris has begrudgingly given a 1% pay rise. So with huge increases in NI - Council Tax 3% - Energy and cost of living that could be minus a huge percentage. So are we saying the poor should get poorer?

Now on to benefits - it’s a fact many won’t come off benefits as they would be worse off with a pathetic minimum wage. I wouldn’t go to work to be a hero and earn zero if my benefits were X.

Do you get my point! Our business has started to pay £15 an hour and we have good staff. To keep with the minimum wage could mean not fulfilling orders - losing money etc etc so any staff increases becomes pin money! Again it’s not even noticed as cuts have been made in other areas which were nice to haves!

I would also close down every business that pays below the minimum wage ( factories in Leicester etc ) and give huge fines to businesses that keep staff tips!