Quote Originally Posted by bordering View Post
Who pays for these wage increases?- we all do in the form of increased prices. Or reduce profits? doubt it as it will affect share value and pension pots. Increased wages always leads to increased prices & printing money always ends very badly. We closed an economy for 2 years but kept giving money away. Lots of money chasing less goods - prices up. It's not difficult it's page 1 "economics for dummies". Then we closed access to cheap gas and oil and prices rocket that was a real surprise. Remember it's not what you got it's what it buys!!!!
Don’t disagree but goes back to my point - pay over the minimum wage or lose your staff and like some businesses close down. Asda have just increased the minimum wage of £1 whihich effectively is a 10%!increase - just for the cost of living. In our business we pay well over the minimum wage as we can’t afford to close by losing staff. Our policy too is by paying decent wages we recruit better staff so in the long run there’s more efficiency and less staff mistakes.

Sadly with rising costs many can’t afford to manage on the minimum wage so they don’t give a f uck about economics.