NATIONAL MINIMUM WAGE
BCC argues businesses unable to afford any increase in minimum wage
The British Chambers of Commerce has urged the Low Pay Commission to recommend maintaining the national minimum wage at its current level next year and until economic conditions have significantly improved.
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The BCC calculates that another increase in the minimum wage, at the same amount as in 2008, would cost businesses £300 million. “Hard-pressed businesses will be unable to afford a wage increase anywhere near that sum, and as a result, a zero per cent rise in the NMW should be adopted next year,” the BCC says.
A final word
"We're not opposed to the minimum wage going up when employment is high and the economy is doing well, but when jobs are being lost daily and a recession is in full swing, it makes no sense to increase the NMW. Most businesses are prioritising survival at the moment. A rise in minimum wage would not help firms hold onto staff and would simply add to unemployment." - David Frost, Director General, British Chambers of Commerce.
Want to know more?
The British Chambers of Commerce (BCC) is the “national body for a powerful and influential Network of Accredited Chambers of Commerce across the UK; a network that directly serves not only its member businesses but the wider business community”. To find out more visit www.britishchambers.org.uk.