Originally Posted by
JDerrida
Not sure why your pre-amble about Brexit was necessary, other than to show that not everything is black and white in politics.
We may occasionally share exactly the same viewpoint on certain matters, even with polar opposite views on the majority of political matters.
I know exactly how the 1999 minimum wage impacted a number of businesses.
It didn't financially impact many businesses paying low wages, because they were paying close, if not above the introduced NMW of £3.60 in April 1999.
Therefore, the financial crisis you jokingly alluded to didn't materialise.
What did happen, was the number of job applicants rapidly reduced after NMW was introduced, as often people felt 'their' value was worth more than the 'minimum'. It was also not helped when Naomi Campbell ludicrously stated she wouldn't get out of bed for less than £10,000 a day.
Pre-NMW, the number of applicants were plentiful.
The 28% minimum wage increase that Labour wants is far too much to responsibly introduce, without it adversely impacting on SME's, costs of living, council taxes, inflation, mortgages and the country's balance defecit.
There will be many businesses severely damaged, social and nursing care will be decimated, significant job losses as a result and many councils will declare bankruptcy.