So screw minimum wage workers then, when food prices have gone up, they may have been furloughed etc etc. Nice!
Not really, if they go under though because of having to pay more. Then these on minimum wage will have no wage.
sad to say, his point is valid, if a business is struggling, it’s just another excuse to cut jobs until they see signs of recovery.
£28 a week extra for a full time minimum wage worker. It's nothing. There are a host of reasons why businesses are struggling, but having to find thirty quid per worker certainly isn't one of them.
I'd rather have a job on the current minimum wage than be on universal credit in a month personally and that's a situation that many who's employers are at breaking point will find themselves in
Depends which way you look at it. The forecasts are better than predicted so he’s put the minimum wage workers first. Surprised the left leaning BBS isn’t delighted at that?
So taking a little bit of spending power away from the workers. Doesn’t sound like a recipe for economic recovery to me.
Forecasts aren’t grounded in the real world. Reality is what businesses are feeling and the ones I talk to are struggling and feel neglected and having to take on huge debt to survive. That debt will have to be repaid, something has to give post furlough if volumes are below pre lockdown levels.
Many businesses are creaking in all sorts of sectors because demand has collapsed. If you haven’t got the same demand, how can you maintain an existing cost base, let alone increase it?
I employ 40 people. I know what business are facing and I spend most of my life forecasting too. Regardless of the budget and party politics every nation affected by this virus has an economic challenge ahead of it. The furlough system allows businesses some time to recover. Not all will. There’s no escaping that. But those those that do will also see minimum wage workers better off than they were before.