To think raising NMW is a good thing

[Kilot]

The poorest in society will earn more. Companies will have to pay more, benefits will drop.

Well shareholders have invested in the company, so yes, they’ll expect a return. If not, they’d sell up.

Do you not understand how business works?

It will further damage youth employment. Who will pay £26k to someone with no experience?

They won't earn a penny if the companies employing them go bust.

Do you know how many small companies are literaly on the brink, especially after the NI rises?

Is that what you want?

You don’t have a right to underpay your workers just because you’re a “small business”

I imagine this will also fuck over nurseries. Increased salary costs, but will the gov be increasing their funding for the “free” spaces - I would imagine not (but hopefully I’m wrong). With the gov also cracking down on top up fees (which have never been allowed), will even more nurseries end up closing? I imagine some “free breakfast clubs” may face the same issue.

Thats not at all me saying that I don’t think nursery workers should be paid more than they are.

I don't disagree with you, but forcing businesses to collapse means unemployment. And that's even more expensive.

Why do people not say this when they see how much Chief Executives pay rises. It seems like we had been brain washed as a society.

I would also add that as a former employer, we are not all shysters.

Some of us want to look after our staff but to keep the business, and their job, viable we need to make a profit.

It’s not forcing businesses to collapse. It’s forcing the owners and shareholders to give up some of their millions of profits.

Companies will just put up prices so we’ll all pay more to cover the cost. In my workplace we’ve seen the impact of the hike in NI, usually we employ double the amount of Christmas temps that we have this year. Shareholders will never take the hit and you are naive if you think otherwise.

Our business has already cut jobs since the increase in Employers NI and the last min wage increase. I’m dreading what happens next. I say that as someone earning 24K a year.

But not all the businesses are making that much profit to cope with paying extra wages AND not putting prices up.

Say someone is running independent tea rooms/ coffee shop for example.so they have to pay more wages for staff. . Fair enough. But then of course everything the business is paying for are going up as well.

So the option is to have less staff, or put up prices. Or should all small businesses be priced out of the market

On a wage tied to nmw but a set amount above it. I do qualify for uc so from every extra £1 i earn 20p goes to tax, 8p will go to NI, 5p will go to my pension and 55p will be clawed back from my uc. For every £1 I will be 12p better off but you can bet prices will increase by more than that.

Or not run a business that cannot pay its workers a living wage.

How will companies pay more? Oh yeah, charging more. Brilliant.

A lot of these companies can afford more but they would rather use it to bolster shareholder profits. It’s the wrong balance. Look at Coca Cola for example. Do you really think they can’t afford to pay their Costa Coffee staff a living wage?

Absolutely everything is going up anyway regardless of NMW

And the small businesses without " shareholders" ?

Companies will put prices up, or employ less people.

Anything that damage their profits, or result is less money for their shareholders will never happen. These massive minimum wage-paying companies have little to no social conscience.

I ran a village store and post office.
There were no millions.

Don’t have a right to exist? You don’t have to run a small business. If your business is not turning enough of a profit to pay your workers, you can’t be in business.

A lot of small business owners hardly make any money, one I heard was saying he's putting his own money in to the business to pay wages, which is unsustainable, and just hoping things improve in the budget or he's out of business. Small business owners are not exactly fat cats.

Of course that’s good news.

Many will try to frame it as bad news, hurting business. Businesses and profits are prioritised over low earners.,

small businesses still have a responsibility to pay staff a living wage. Or do you think the government should support those people ?

Not every business can do it, and those who can might not. They'll cut hours, drop standards, up prices for consumers before they hurt their bottom line. It will hurt small businesses and those lost jobs might not be replaced.