On 1 April 1999 the National Minimum Wage (NMW) was introduced – a £3.60 wage for everyone aged 23 and over.
According to a Uk government report from the Low Pay Commission.
30% of workers have benefited either directly or indirectly from the minimum wage – with up to 7 million individuals a year feeling the benefits
but what do other commentators think?Try these links to make up your own mind
In a special blog posting the Resolution Foundation- found that it had not led to unemployment
However at the same time 'Reductions in hours worked, particularly amongst lower earning men, have countered the inequality reducing impact of the NMW. '
Unison also highlights similar issues and GMB makes the point about a much greater rise in bosses wages
Professor Len Shackleton, Editorial Research Fellow at the Institute of Economic Affairs has written for CapX on the 20th anniversary of the National Minimum Wage. on the relationship between the wage and the war on poverty
Also useful is IFS 2018 report on living standards and the impact of the National Minimum Wage
it makes some positive remarks but also adds. However, 'the minimum wage is not particularly well targeted at low-income households, as many low-wage workers are members of middle-income households and many of the poorest in society are not in work at all.' . They have also published a brief review of the possible impact of the recent rise in wages.
No comments:
Post a Comment