Παρασκευή 1 Απριλίου 2016

Britain: In effect the increased minimum wage

Britain: In effect the increased minimum wage


More than one million British workers took today as increase took effect the increased minimum wage in an economic experiment that fuels intense political controversy for staying or leaving the country by the European Union.

Last year the finance minister George Osborne announced a series of increases in salary will result in strengthened by 13% by 2020. The minister hopes that this change will boost productivity and give the opportunity to the employees to derive satisfaction from work them and not to regard it only as a means of survival. But companies in hospitality industries, retail and social care, where usually salaries are low, have said they may be forced in this way to reduce their staff.

Minister of the government, which wants Britain to leave the EU, said Friday that an increase would make the country more attractive to foreign workers in a period in which net migration far exceeds the government target, according to the Athens Agency.


The OBR, the independent British agency which has budgetary responsibility, believes that the salary increase would result in reduced jobs by 60,000 and increase business costs.

The Osborne said the change means that the annual earnings of workers aged over 25 who receive the minimum wage will increase more than what the respective categories of employees elsewhere in the world.

Under the first increase, the minimum wage rose today to 7.20 pounds per hour from 6.70 pounds previously.

Culture Minister John Gouitingkeil told the newspaper the Times that the new growth will act as a magnet for more immigrants unless Britain take the same control of the voting boundaries in favor of leaving the EU. "Wages in Britain will be very higher than in the rest of Europe, "he said.

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