How Might a National Minimum wage Effect Those Who Have a Lo

A detailed Summary of How Might a National Minimum wage Effect Those Who Have a Lo

How might a national minimum wage effect those who have a low wage?

a national minimum wage might effect those who have a low wage (i.e lower then the proposed minimum wage) by firstly having a decrease in employment. This decrease will be due to the workforce that were working below the minimum wage. If they were working below it and now the employee has to pay the workers even more for the same amount of work, it may be economically unviable to continue employing so many people. Therefore, the laborers will be made redundant. After this, the firm may either have to scale down it's rate of production and generally downsize or they shall illegally employ people on the black market. This is where the laborers will go back up to the employer and say that they are willing to work for under the minimum wage. Once employed, they are not only breaking the

The other problem is that those who were working just over the minimum wage (by a couple of pounds) wages shall go down as there is no incentive for the employees to spend more money on their workforce when they do not need to. On top of this, there is also the problem that these workers face. If they ask for a higher pay, they will be told no. this is because there are pleanty of people who will willingly take the job. In short, the supply goes up and the demand goes down.

Due to people working on the black market, their shall be less revnue for the government in income tax which means that they shall have less money to spend on more important issues like hospital wating lists.

Another problem with the minimum wage is that people will not be paying their income tax because they are working illegally. Therefore, they shall get more money then someo

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Approximate Word count = 577
Approximate Pages = 2 (250 words per page double spaced)

Category: Politics

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How Might a National Minimum wage Effect Those Who Have a Lo

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