MINIMUM WAGE HIKE COULD MAKE UK UNCOMPETITIVE
January 17 2014.


BCC Director General John Longworth comments on the Chancellor's announcement on the minimum wage.


“Although it is clear that there is an increased disparity between the highest and lowest earners, arbitrarily raising the floor isn’t necessarily the solution and could in fact make the UK economy uncompetitive in the long term.

"The adverse effects of an unaffordable minimum wage hike would also be predominantly concentrated among SMEs, young people and graduates.

"If we want to spread the wealth around as the economy recovers, we need a long-term plan to create a high-skill, high-wage economy, including action on infrastructure and access to finance.”