A new report suggests freezing the minimum wage for five years could result in low-paid workers losing nearly £9,000 over the period. The proposal, backed by a shadow business minister, aims to tackle the issue of low youth employment rates. Critics argue the idea is impractical, while supporters claim urgent action is needed to improve economic participation among young workers. The debate highlights tensions between wage stability and efforts to boost employment.
Labour says idea is ‘tin-eared’ as report says fixing rate will cost low-paid workers almost £9,000 over five yearsA shadow minister has called for the government to freeze the minimum wage for five years, a move that could cost low-paid workers almost £9,000.The call came in a report from the Prosperity Institute thinktank, which carries an endorsement from Andrew Sharpe, the shadow business minister. Sharpe said in his endorsement that it was time to take action to address the low rate of young people in work. Continue reading...
