WE now have the nonsense between the Labour and Conservative parties out bidding the amount they will set as a minimum/living wage.

For the sake of easy maths, lets say £10 an hour x 40 hours equals £400 a week x 52 so that is £20,800 a year. That amount is of course then subject to taxation and insurance contributions.

The only people who will benefit are part-timers staying under the threshold for paying income tax.

Who will pay for that hourly increase?

Just about everyone as the cost will be passed on to the customer. Customers will of course include all those people who will get the increase. Therefore the cost of their own shopping will have increased, to cover the minimum wage. Nobody wins.

Losers are pensioners and those on benefits. As any improved amount they might get won’t cover that increase in shopping, services, utilities and so on.

As it is, the increase on the Council Tax has not been complemented by higher benefits received.

An easy example. One third (after discount) of my state pension has to go back as Council Tax. Now I will have to pay for other people’s minimum wage.

Another point is the more people earn leads to an increase in inflation.

Only the wealthy can cope with these circumstances.

Dare I mention, those politicians who are being paid by us, getting a very good salary and therefore using our money, will cope. Plus they get a pension.

In the meantime, if we do Brexit, prices will go up yet again. Then politicians will say, they will put up the minimum wage again!

Back to square one.

Richard Grant

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