Minimum/Living Wage

[Octopus]

I think the issue with a higher minimum wage is that it will make UK businesses less competitive in international markets. This will require that there's import controls introduced to prevent them having to compete with far east products with lower labour costs ....which means higher prices for customers. Or you need to introduce a mechanism that guarantees productivity to prevent local businesses being at a disadvantage with high labour overheads.

When I'm dictator of the world, I'd make the Chinese currency "float" - at the moment its pegged against the US dollar - China has massive surpluses, and the USA has massive trade debts - go figure that one!

All the time such anomalies exist the whole world market is "fixed".

The Chinese currency should appreciate in value massively, making their exports more expensive, and allowing other countries to become competitive.

Thats how I see it!

 

[Marvo]

Why should the tax payer subside profitable businesses so they can pay better dividends to their shareholders?

I'm not suggesting the tax payer should be subsidising anything and TBH I don't know why they are, I'm just pointing out two things, firstly you have to be competitive internationally and secondly the scale must balance so any minimum wage should be introduced with a corresponding mechanism to guarantee that enough productivity can be realised from the employees that are benefiting from it.

 

[Octopus]

I'm not suggesting the tax payer should be subsidising anything I'm just pointing out two things, firstly you have to be competitive internationally and secondly the scale must balance so any minimum wage should be introduced with a corresponding mechanism to guarantee that enough productivity can be realised from the employees that are benefiting from it.

Marvo, the biggest issue the UK faces now, as it has done for about 30 years and its getting worse, year by year, is the shortage of housing. Prices to buy in affluent areas are eye watering, and rentals are no cheaper. This is one of the key issues with the budgeting people have right now.

If immigration were to stop tomorrow and the UK built 300K houses per year for 10 years, then things might get easier, but this is never going to happen.

Politicians go on about the cost of living crisis, but NONE have the bxlls to link housing costs to the growing population.

Increase housing supplies, then prices and rents would level out and probably fall - then our salaries would go further.

We have a fairly big mortgage, but the rental on our house would be double our mortgage.

 

[dingledong]

The people I know on £9~11 an hour now want a raise to keep parity with the minimum wage and I presume so on up the scale.

 

[Marvo]

Marvo, the biggest issue the UK faces now, as it has done for about 30 years and its getting worse, year by year, is the shortage of housing. Prices to buy in affluent areas are eye watering, and rentals are no cheaper. This is one of the key issues with the budgeting people have right now.

I'm trying to connect the dots. How is the the cost of houses in affluent areas connected to the minimum wage?

Increase housing supplies, then prices and rents would level out and probably fall - then our salaries would go further.

We have a fairly big mortgage, but the rental on our house would be double our mortgage.

Why isn't the number of new homes being built being driven by the demand for housing? If house prices fell it wouldn't help anyone who already owns a house, their debt would still be the same and their repayments wouldn't change, it would only help new buyers who don't already own property.

 

[dingledong]

New houses are being built but not a lot and the builders want to make money so they are expensive and generally unaffordable on a minimum wage . I don't think you would get a mortgage on a minimum wage as the building societies want to make money too so only want people who will pay back

 

[Marvo]

Yeah but you're talking like it's cast in stone that it's everybody's right to be a homeowner.

 

[dingledong]

In England that's what we want to own our own house ,other countries differ

 

[Marvo]

But in England you embrace a capitalist system where for every winner there's going to be losers. The aspiration to own a house is what makes you buy into the system, it's what motivates you to play the game against all the other players, a game where you win by beating your opponents. It's a competition where the losers fall and the only thing that breaks their descent to abject poverty is the safety net otherwise known as the dole.

 

[dingledong]

Correct young man so make cheap sell high
I would think every country must be the same winners and losers ,more losers than winners , I do work for a kebab chicken shop the owner pays £3 an hour ,some weekends he makes£8000 he is near a football stadium but 90% of people would try and keep there wages paid out Bill as cheap as possible

 

[Octopus]

In London loads of new homes are bought by over seas buyers who never move in and sit back and make 10+% returns for doing nothing. Buy to let mortgages are easy to come by for people with money. These 2 things are causing big problems. Londoners are moving out, and the ripples are doing the same further out. For less well off people the issues worse

I've got 2 teenagers and I can't see them ever leaving home when a small 2 bed house around here is £250k +

 

[dingledong]

It's only 500 k for the 2 of them Murdoch ! Start working weekends it won't take you long

 

[shanky887614]

I'm trying to connect the dots. How is the the cost of houses in affluent areas connected to the minimum wage?


Why isn't the number of new homes being built being driven by the demand for housing? If house prices fell it wouldn't help anyone who already owns a house, their debt would still be the same and their repayments wouldn't change, it would only help new buyers who don't already own property.

its a lot cheaper to buy than rent marvo but a lot of people struggle to get enough money together for a deposit


the problem is whenever they build affordable housing some people are buying then all

where i used to live one guy bought 8 on the same street.

they were built for first time buyers