It’s a shame the government has to mess around millions of low paid workers for a relatively small amount of political capital.
Tag Archives: minimum wage
An increase in the minimum wage is long overdue.
As the graph from Green Party London Assembly member Jenny Jones shows, the National Minimum Wage has failed to keep up with London’s rising cost of living.
There is a strong consensus that the National Minimum Wage (NMW) has been a success yet, quite rightly, we are still worried about low pay. Can we do more with the NMW, or should we be thinking about a whole platter of policies to bring about fairer pay?
If we don’t raise wages, control rents or reverse welfare cuts, we are going to completely price low paid workers out of London.
A minimum wage worker would need to work for 380 hours a week to match the annual salary of someone at the 99th percentile, according to research by the Resolution Foundation.
Although the government deserves a degree of credit for seeing off calls from business leaders to freeze the minimum wage, by increasing it to £6.31 – meagre increase of twelve pence – it has yet again failed to ensure the minimum wage is above inflation for the third year running.
This policy will only work in the land where the Magic Job Tree grows alongside the Magic Money Tree that ensures all such jobs are well paid. And that only exists in the head of some policy wonks in Tory think tanks.
At a time when the mainstream political discourse seems preoccupied with boosting low pay, living wages and a citizens income it seems odd that the Conservatives would float the idea of reducing the National Minimum Wage. As many have rushed to point out, most evidence suggests that it boosts growth, putting money in the pockets of those most likely to spend