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Old 05-03-2008, 18:07   #9
jambutty
Apprentice Geriatric
 
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Unhappy Re: Plus 21p. Wow! Big Deal!

There are two real problems.

First wage increases and inflation are all quoted in percentages and even an amoeba will know that 5% of £100 is a lot less in cash than 5% of £1,000. When bread goes up, as it surely will because of the world wheat shortage, it will not go up by X% but by X pence with scant regard as to who is buying it. Or in other words if a loaf of bread goes up by 20p it won’t matter if the buyer is earning £1,000 per week or just £100. They will both have to pay the extra 20p.

No jokes about bread going up because the dough was rising please.

The other problem is that the minimum wage discourages many employers from paying the market rate for the job, which in many, many cases would be higher than the minimum rate.

As I understand it Cyfr by household they mean an average family and it would be income from all sources. This would include tax credits, child allowance, or whatever it is called these days, etc.
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