I've got some questions about this £15 minimum wage stuff...

Just going to list them below if any of the board brains could offer guidance.

Should add that I’m very pro the idea in theory.

Feel free to add your own questions.

I work for a very large retailer. They turn over ridiculous profits whilst paying staff next to nothing, operating on skeleton staff, and making cuts wherever possible. If they have to pay staff a lot more, wouldn’t they simply make much larger cuts to staff and work staff even harder?

How would such a sharp rise in pay impact on smaller independent businesses in particular?

They’d look for more efficiencies, but if things are already scaled right back, that extra staffing cost would come from somewhere else like office staff, warehouse efficiencies, contracts with suppliers ect

I’m in a similar boat

Ideally by introducing the wage they’d also introduce strict rules (laws?) to counter exactly that. But we are in hell so obviously that won’t happen.

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If people get paid more, they have more to spend in those exact same retailers

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Would big payrises not mean employers have to raise prices even further? Take my job as an example, surely some of the cost would have to be passed onto the customer, in times when inflation is already extremely high with the cost of living crisis, etc?

If their business model relies on exploitative wage practices in the first place: fuck 'em

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It’s the same as the UBI arguments really. Wage rises are not themselves inflationary because it’s not an increase in the amount of money available in the economy, it’s a redistribution of existing money. That is, wage increases should be paid for from profit margins. Corporation tax is one of the policy levers for this; if it’s tax inefficient to hoard profits then that should incentivise reinvestment of a higher proportion of the profits.

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If a minimum wage job pays £30k, would a longer term effect of that not mean lots of people end up out of work as people with higher skillsets or wider experience see ‘unskilled jobs’ (bollocks term, imho, but…) as viable?

No, it shouldn’t. It should be about reducing what senior employees/directors make and instead, investing that money in their staff. Part of the reason we are in this mess is because the government has been trying to let business owners (I mean corporations really, not your average shopkeeper) have it their way and make savings without touching profits. We can’t keep placating big business owners forever at the cost of peoples’ lives any more.

(Not saying/implying you’re doing that bugduv!)

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Then those employers need to offer >£30k to attract people and everybody wins

If our situation is anything to go by (Norway), then no, because people in general always want to make more money and have high status jobs. We’re struggling to get enough people for traditionally lower wage/“unskilled” jobs and other lower status jobs because people simply don’t want them. So we get loads of labour immigrants, at least when there’s no global pandemic raging

Out of curiousity, what is the current minimum wage for adults?

£9.50 an hour.

Fucking hell

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YOU SHOULD TRY TSKING YOUR SOVEREIGNTY BACK LIKE WE DID111!!!

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Yeah.

After basic rate tax and National Insurance that would work out at roughly £335 a week, or £1,450 a month for forty hours.

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Look mate, Jean has been with you for years. Just pay her a fair wage ffs.

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Also, should mention that’s for over-25s. If you’re 16-17 it’s as low as £4.81 an hour.