Living Wage – A Living Hell?
The newly elected business friendly Conservative government has astonished us all. They’ve just pumped up the minimum wage by over 10% to £7.20 by April 2016. This is well ahead of average earnings and inflation.
It’s probably manageable for large companies through productivity gains, natural wastage and technology initiatives. How do they expect small businesses to afford this? Our view is that operating margins will need to be increased. Wholesalers and suppliers will have to fund this. What’s your view?
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