Meeting of the Parliament 01 March 2012
That is exactly the point that I was going to make. At the time of the introduction of the minimum wage, the CBI stated that
“even a low minimum wage would reduce job opportunities and create major problems for wage structures in a wide range of companies”.
It went on to warn of price rises, business closures and unemployment as workers were “priced out of jobs” when we were suggesting a minimum wage of £3 an hour. However, in 1999, six months after the minimum wage was introduced at £3.60, the CBI admitted to the Low Pay Commission that there was little evidence of an adverse impact on jobs or prices.