Miliband tackles low pay with tax cuts offer for 'living wages'
http://www.guardian.co.uk/politics/2010 ... leadership
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| Quote: Ed Miliband steps up his bid for the Labour leadership today by promising substantial tax cuts for any company prepared to guarantee a "living wage" of at least £7.60 an hour. The commitment is designed to appeal to the party's core supporters who believe New Labour took insufficient measures to combat low pay, despite having introduced a legally binding minimum wage that now stands at £5.83 an hour. A company that agreed to set the "living wage" as its minimum rate – as opposed to the legal minimum – would pay lower rates of corporation tax. | |
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Well that will suit companies that have contracted out all their cleaning and low paid jobs. Like investment banks. This is a stupid idea. It would be better to have a the minimum wage increase as fast as possible to the living wage then people will clearly be better off working than on benefits.