McDonalds could afford to do that, couldn't they?
No chance. They have a profit margin of 16.7%. Increasing the wage to £10 would increase the cost of the majority of their workforce by fifty percent.
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McDonalds could afford to do that, couldn't they?
No chance. They have a profit margin of 16.7%. Increasing the wage to £10 would increase the cost of the majority of their workforce by fifty percent.
No chance. They have a profit margin of 16.7%. Increasing the wage to £10 would increase the cost of the majority of their workforce by fifty percent.
Indeed - and this is McDonalds we're talking about - god only knows what would happen to SMEs up and down the country if a £10 minimum wage was imposed on them.
People will have more money to spend, stimulating the economy.
Not if prices have to be raised to accommodate paying a higher wage.
European migrants are, on average, much better members of our workforce than their native peers. I don't have the stats immediately to hand, but there have been quite a few reports analysing the impact of the A8 countries since they were allowed freedom of movement within Europe, and most have been overwhelmingly positive.
I'm afraid the days of staying in your home town your entire life may be long gone, and I'm not sure it's really fair to critisise migrants who travel to another country to try and better themselves as somehow contributing to the inability of native people to move even outside of their hometown for work. They seem to offer a good role model if anything. Very admirable.
i find it amazing that the low paid/unemployed seem to take the brunt of any austerity measures
People will have more money to spend, stimulating the economy.
Unfortunately this answer is flawed in so many ways:
- Where do you think the money would come from in the first place to pay these people more? SMEs aren't sitting on millions in the bank, many only just scrape by on a day-by-day basis.
- The people who retain their jobs will certainly have more money, but what about the people who suddenly find themselves without a job? How is that going to stimulate the economy?
- You're also ignoring a little thing called inflation - prices would rise to offset the increase in wages, and not only that - if a few million people suddenly have a lot more money in their back pocket, inflation would rise sharply anyway.
That's cut throat capitalism for you. I don't think anybody should be paid 6.50 an hour in 2015, and if a company can't afford to pay more then that company should not exist.
That's cut throat capitalism for you. I don't think anybody should be paid 6.50 an hour in 2015, and if a company can't afford to pay more then that company should not exist.
That's cut throat capitalism for you. I don't think anybody should be paid 6.50 an hour in 2015, and if a company can't afford to pay more then that company should not exist.