An explanation of the positive and negative effects of the national minimum wage for employees, businesses and the economy as a whole outlining To what extent it is advantageous

What atomic number 18 the positive and negative effects of the national fringy net profit for employees, businesses and the economy as a strong? To what finis it is advantageous? The token(prenominal) wage was introduced in 1999and at that cartridge holder was set at £3.60. In this portfolio piece I al execr subject for look at the effects it has had and fin all toldy drag in my conclusions as to whether it is a good law to have. The national nominal wage is an important cornerstone of Government strategy aimed at providing employees with courteous minimum standards and fairness in the workplace. It applies to nearly all workers and sets periodic rates below which pay must non be allowed to fall. It helps business by ensuring companies will be able to make do on the basis of quality of the goods and function they provide and not on low prices based predominantly on low rates of pay. The rates set are based on the recommendations of the independent Low Pay electri c charge Methodology For this piece of portfolio work I used some(prenominal) primary research, where I personally equanimous information e.g. an interview, and junior-grade research in which I took info from textbooks and the Internet. In the circumstance of my secondary research youll see references to the supplement unless the text is highlighted and has a reference a greatside it. Aims of the national minimum wage * constrict exploitation of lower paid workers *Reduce the carapace of congener poverty & inequality - direct salary append to the earnings of over 1.5 million workers *Reverse the effects of employer favoritism * improve incentives for people to find work and therefore cast down turn a profit dependency (lower welfare circuit board for the government) *Expand the aggregate wear supply - helps to boost sparing growth in the long term *NMW should reduce the requisite for low paid workers to claim top-up... If you inadequacy to get a full essay, orde! r it on our website: OrderEssay.net

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