Reeves' Weasel Goes Pop - Budget Adds £2.5K Per Minimum Wage Employee

 

 

Pre election, the media and Civil Service went into hysteria when Tories claimed Labour’s plans would increase taxes by £2,000 per working household.

This will of course mean less people are employed and consumer prices will increase.

The Minimum Wage - The Curate's Egg

We’re putting more money in people's pockets by raising the National Living Wage. 4 million people will get a pay rise. #CPC19 #GetBrexitDone pic.twitter.com/pLZZ3nXu13

— Boris Johnson (@BorisJohnson) October 1, 2019

Raising the minimum wage will increase the take home pay of those employed at the current minimum wage, if they keep their jobs.

The downsides are:

1 It increases the costs of the firms that employ people on minimum wages.

2 It increases the likelihood that staff will be laid off, in order to reduce increased costs.

3 Increased costs may well be passed on to the consumer.