“The minimum wage is a double-edged sword really, it reduces jobs (a business will only employ what it can afford) but brings up wage levels whilst also aggravating inflation through price rises of businesses trying re-coup their labour costs.”
The Conservatives voted against the national minimum wage because they believed it would increase the cost of doing business in Britain (which was true) and would cost millions of jobs (which was wrong).
The Conservatives was wrong, the country lost low paid sweatshop type jobs (I recall reading a figure of around 50,000 jobs lost) and put a lot more money in the pockets of ordinary working people. With more money in their pockets working class people who used to be on £1.20 an hour or less went out with that extra money and spent it in British businesses driving the economy.
It’s basic economics, a person who earns more, spends more and we don’t exactly have a “save for a rainy day” society, so the average man and woman in the street tend to spend most of what they earn.
Add it up Sarah, if you earn £1.20 an hour (I’ve been on as low as £1 an hour) you do not have the money to buy anything beyond the basics to survive. That means people are not buying luxuries like big screen TVs, expensive cars, etc… and that means less money flowing through the economy creating jobs (money sat in the bank account of a rich businessman does not generate jobs).
David
More Comments by David
Liberal Democrats Easy Read Manifesto 2017
Thanks for letting me know I’d added the wrong link to the Lib Dems Easy Read Manifesto: benefit of using the Labour manifesto article as a template, easy to make …
Government responded while there were 14,863 signatures (October 21st 2016).
It is unlikely that hunting has had a significant impact on recent population trends for woodcock, snipe and golden plover; trends …
Introduce a moratorium on the hunting of critically declining wading birds petition
Another petition regarding woodcock, snipe and golden plover : https://petition.parliament.uk/archived/petitions/167410
Woodcock, Snipe and Golden Plover are shot in the UK despite serious, ongoing population declines. A moratorium should be imposed to …
BNP are a Political Party in Decline
If you’ve been following the BNP since just before the 2010 general election you’d know the BNP are in real trouble with infighting, money problems and generally self-destructive behaviour.
Apparently BNP …
Alternative Vote Better than First Past the Post
Although I don’t particularly like the Alternative Vote system (I agree with Nick, a miserable little compromise) it’s at least better than First Past the Post voting system.
The vast majority …
More Comments on Why I’ll Never Vote Conservative at a General Election by David
Why I’ll Never Vote Conservative at a General Election
LOL on the “destroyed Labour’s record on managing the economy”, thanks for the laugh.
There’s a lot of probables and possibles in your comment above!
Why not answer the questions based on …
Why I’ll Never Vote Conservative at a General Election
The economy under Labour has not been as bad as you suggest. I’m not saying the management of our economy by Labour was awesome either, it’s been OK and better …
Why I’ll Never Vote Conservative at a General Election
We do need electoral reform which is why I agree on your “there are too many Monkey votes for all political parties” point.
It appears to be far worse in the …
Why I’ll Never Vote Conservative at a General Election
Would take an economist or two to determine if the countries been run relatively well since Labour came to power.
Since you and I are not economists, we have to go …
Why I’ll Never Vote Conservative at a General Election
“Anyone who votes for Labour and another 5 years of Socialist ruin for this country is an idiot….by extension that means you.”
I’d rather be a Labour voting idiot than a …