Business UK
Employers will not be able to pay £15 minimum wage says economy expert Annabel Denham
‘Many of the 13 million people employed by small business just don’t produce enough added value to justify a minimum wage of £15 an hour.’
Director of Communications at the Institute of Economic Affairs, Annabel Denham, says ‘Employers couldn’t pay this rate and stay in business’.
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Cabinet Office DEMANDS LGBT and ethnic figures on bank notes over DIVERSITY – ‘RIDICULOUS!’
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Nana Akua hits out at the Cabinet Office’s suggestion that banknotes should featurre prominent ethnic or LGBT figures from British history.
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@lukepurse9042
January 3, 2024 at 8:44 pm
Annabel is not an expert, she is a shill.
@fredarcher7264
January 3, 2024 at 8:44 pm
I would love to know what your salary is Denham – I would assume it is a hell of a lot more than £ 15 per hour.
@martinburke362
January 3, 2024 at 8:44 pm
It does need to be a tenner though and soon!!!
@JimBob-vg2og
January 3, 2024 at 8:44 pm
Labour are total idiots
@Sabhail_ar_Alba
January 3, 2024 at 8:44 pm
Many of the businesses she refers to have a business model based on cheap
labour so one should expect them to go bust now the labour pool has dried
up, post Brexit.
You can't pay £15/hr for someone to clean a floor so the solution is automation. This
is what they do in Switzerland and other advanced countries. There is no reason
not to automate fruit picking and many other repetitive jobs which UK seems to
produce in abundance. But that takes investment and a medium term view which
many employers aren't interested in, all they want is a constant flow of cheap
labour and instant profits.
We are supposed to be a 1st world economy so lets start creating value added jobs
and that means in manufacturing, engineering and science.
NB: the reason labour productivity nose dived is because of cheap foreign labour
and the lack of automation.
@cjchaworth
January 3, 2024 at 8:44 pm
Abolish the minimum wage, introduce reverse tax codes up to the Living Wage, scrap most other benefits, watch the economy boom.
@micky6312
January 3, 2024 at 8:44 pm
Lol my wife's old job couldn't afford to pay her a payrise as they drove around in their new range rover wearing a gold rolex…
@whitwoodkidwhitwoodkid9794
January 3, 2024 at 8:44 pm
I know tradesmen that are on £15 an hour flat rate obviously tradesmen that are on price are on a lot more, asda and morrisons and the like arent going to pay shelf stackers £15 an hour
@rocstar2001
January 3, 2024 at 8:44 pm
This is a stupid proposal designed to appeal to morons. So someone with no skills, no experience, no qualifications, no education effectively, should be paid the annual equivalent of £28k a year?
What about those with relevant qualifications and experience? Will they be paid £50k a year now to respect the efforts they've made to improve themselves?
Also this would be inflationary in the extreme, say hello to £3 pints of milk and £20 pints down the pub.
Utterly stupid, an attack on self improvement, economic suicide and rewarding failure.
@paulvalente4140
January 3, 2024 at 8:44 pm
i would just love to have working hours that are not for the robots of the world
@jaylondon2177
January 3, 2024 at 8:44 pm
Yes they can they just won't have ad much profit and it'll stop them exploiting people for self gain and treating employees like slaves
@petermitchell6348
January 3, 2024 at 8:44 pm
Unless the increase comes out of Corporate profit, the only result will be an increase in inflation.
@tauIrrydah
January 3, 2024 at 8:44 pm
Easy solution: Go out of business if you can't afford your operation costs i.e. your employees who produce ALL the value of your company. Go back to America with your catastrophist anti-minimum wage BS.
@steve00alt70
January 3, 2024 at 8:44 pm
They are able to pay £15 an hour they just dont want to due to greed. But the Tories want you to think they cant for other reasons.
When you have the cost of living going up… guess what society does not want to spend so the economy hurts as a result. I havent spent on anything else but food, electric, gas and car expenses nothing else I have saved saved and saved.
@marks6663
January 3, 2024 at 8:44 pm
If you value work, then you must pay as if you value it. Nobody should work a full time job without getting paid a full time living wage. If your business model does not support a living wage, then you should close down. If the only way you can prosper is if an adult works in poverty to make your business viable, then it is not a viable business. As she says, these businesses don't produce enough added value to pay a living wage. You are doing nothing for society but exploiting people, by taking their time, but not giving back a living wage. For every dollar an employer does not pay, society has to make up for it in social payments. Like when restaurants pay their wait staff so poorly, they have to get tips from the customers just to making a living. So we pay for it one way or the other. Better that the employer pays, and not the taxpayer. And if I have to pay more for my services, so be it. Same thing with Chinese goods. I would rather pay more for goods made here, rather than get a few dollars off cheap Chinese junk made there.
Think of the long term, not the short term.
@boobrancher9941
January 3, 2024 at 8:44 pm
If the job isn't able to support minimum wage then that job will disappear completely. Employers can't print money, it's not up to them, this is a great headline but in reality it's a jobs killer.
@ricardosmythe2548
January 3, 2024 at 8:44 pm
The highest age band of min wage should be around £15 an hour IMO. You can't afford to live on your own in most areas on less than that and all areas need servicing 🤷♂️
@waynetowers5046
January 3, 2024 at 8:44 pm
"Director of Communications at the Institute of Economic Affairs."
… That's an actual job, is it… Certainly not on NMW.
@richardlongmore9301
January 3, 2024 at 8:44 pm
Big business has got its cheep immigrant labor thank you very much ! So There will be no rise in the minimum wage or pay rise for anyone
@ianlewis8086
January 3, 2024 at 8:44 pm
It'll never be 15 no matter who's in power
@caledonianbuddah2703
January 3, 2024 at 8:44 pm
I'm pretty sure supermarkets and most big businesses could afford to £15 per hour. Its just that they don't want to give it out there profit
@destinedtodevinespiritualc119
January 3, 2024 at 8:44 pm
Actually they can and its been proven over and over again what is the real problem Is the cost of rent and mortgages i looked for an1 bed flat £700 a month wtf balls to you all corporate wankers
@pianolearnermolescroft4508
January 3, 2024 at 8:44 pm
Problem is the gap between minimum wage and skilled job wages. The skilled work wages will not go up in line with minimum wage increases and people without the qualifications and skills will be close to the wages of someone that does have these.
@stevendouglas3860
January 3, 2024 at 8:44 pm
Notice the people who Don't want it ,
Are private educated like Phillipa or Annabel who Are taking home £100,000 and are always married to Crooked Bankers .
@robinmunro7733
January 3, 2024 at 8:44 pm
Labour are just trying to buy votes. How many manifesto policies, like this, actually see daylight anyway?
@Will-vs5kp
January 3, 2024 at 8:44 pm
Labour know full well that the economic impacts of the minimum wage are deleterious to those on low incomes and are of low skill.
Labours whole success rests on the government keeping these oppressive policies in place.
There shouldn't be a minimum wage, if there wasn't then those who have been priced out of the labor market would be able to obtain work and acquire skills, rather than sitting around being a tax burden.
@run2cat4run
January 3, 2024 at 8:44 pm
Thats BS the big companies make so mush money and isn’t Brexit about taking back control?
@sherbershlemel6937
January 3, 2024 at 8:44 pm
so when politicians pay themselves £80,000 a year its "income distribution" but when a worker wants higher minimum wage its "a puzzle"
@ronmatthews1738
January 3, 2024 at 8:44 pm
Successive governments of all stripes have spent forty years turning the UK into a low-wage high-cost of living economy. Housing has been used like a Ponzi scheme, inflating house prices to drive the economy on debt. This is now a burden on the young who are either paying most of their income on rent or a huge mortgage.
As for productivity; no mention in the video of the impact of mass immigration on productivity and wages.
The UK's GDP growth over the past decade has been purely due to increased population numbers through mass immigration, per capita GDP has been moribund.
Companies have been employing cheap foreign labour rather than investing in their businesses to increase productivity. Boris Johnson goes on about everyone having high-skilled, high-paying jobs but they are being driven out of existence in favour of minimum wage zero hour contract work.
Neither of the two main parties even acknowledge these fundamental flaws in our economy, let alone address them.
@EskiLdn
January 3, 2024 at 8:44 pm
Biden talked about a 15 min wage and he got elected and then said 15 min wage wasnt on the books right now.
Labour is just trying to copy the americans. Anyone who believes we would get a 15 min wage is moronic.
@chrishart8548
January 3, 2024 at 8:44 pm
Who are these people who think working harder is the answer! How lazy do the think people are…
@keegan773
January 3, 2024 at 8:44 pm
Labour trying to buy votes with other peoples money.
The loony left at it again.
@chrishart8548
January 3, 2024 at 8:44 pm
Get rid of the minimum wage. Jobs for all and let the free market work things out. And shame the company that pays the low amounts.
@jessop-
January 3, 2024 at 8:44 pm
I'm on 10 quid an hour & can just scrape by. If they put it up to £15 an hour, the price of everything would go up & I'd still just be scraping by.