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Well someone said no one was better off, to which I proved that the minimum wage rises in the last decade have gone up twice as fast as inflation.
If only you lot could eliminate economic facts and anyone with different opinions, then finally you would be happy!
Why is the past relevant at all? Right now, is somebody able to live off minimum wage no matter where they live in the UK.
My guess is that a single male on minimum wage living in my area would be completely ****ed.
Is that good? Is it worth performing mental and statistical gymnastics every night on a Cardiff message board to stick up for that situation?
whilst it is true that the minimum wage has outpaced inflation, and the nil rate band has also increased considerably, the single biggest cost that most people face will be housing. Given house prices rise on average about 10% per annum, we shouldn't crack open the champagne just yet, given many people are finding it more difficult to get on the housing ladder.
True thats the biggest problem for the young, they can still buy a house, but its very difficult and they need a decent wage so it's very hard. House prices should fall this year or next, hopefully that will help a few more to be able to buy their own homes.
I think Landlords buying power has pushed prices beyond the average youngster, there needs to be some carrot or threat of a stick to persaude landlords to reduce portfolios so youngsters can buy rather rent which is dead money.
Here you go.
Well, sorry to bring some facts to the table, but the minimum wage was £6.19 in 2012. It's £9.50 now. Thats an increase of 53%.
https://en.wikipedia.org/wiki/Nation..._Wage_Act_1998
We can add a little from the last few months, but Inflation from 2012 to 2021 was 25%.
https://www.bankofengland.co.uk/mone...ion-calculator
No one disputes the global financial crisis, then a pandemic then a war in Europe don't impact on things. They do. It's been fkn tough, but the solution isn't to give everyone 10% more money. You may want to support the union on ideological ground but you know that in your heart it isn't the answer for the country as a whole.
You aren't considering the whole picture there - someone on minimum wage is likely to also have benefits that they need in order to be able to live (because we effectively subsidise businesses to pay workers poorly, basically a tax break for the business owners). So you'd need to look at both aspects of someones salary.
Additionally the effective inflation rate for someone on minimum wage is not the same as the inflation rate that the bank of england calculates. It has been shown that they face far higher inflation, as the things that have risen the most (energy, food etc) take up a far higher proportion of their overall spend.
Big deal. These pay rises are peanuts. That doesn’t make people on a minimum wage much better off at all. They remain on very basic wages and in many cases still reliant on food banks.
Would you be comfortably off working for £9:50 an hour? Do you think anyone can live comfortably off that? How can they afford a mortgage on these kind of figures?
Didn't think he gave a very good account of himself.