Thursday, 12 February 2009

on opting out of the minimum wage

Is the minimum wage redundant, in this era of redundancies?

Yesterday Christopher Chope MP, introduced a Private Members Bill, the Employment Opportunities Bill, to "introduce more freedom, flexibility and opportunity for those seeking employment".

It would enable those currently out of work, but would be willing to work for less than the minimum wage, to negotiate their wage.

Its an economically liberal proposal, giving the employee power to choose their wage. Of course the flipside is employees can drive down wages as they please (after all who is going to check that the business can’t afford the minimum wage), which is one of the practices the minimum wage came into being to stop.

Whats stopping an employer saying, “you can have the job but only if you negotiate your wage to below the minimum wage”

Of course being a Private Members Bill, especially one of this nature, it will never see the Statute book.

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