Has Jeremy Corbyn really thought through Labour’s plan for a £10/hour minimum wage for under-18s?
Under such a policy, when I was a teenager I might never have been able to get a part-time or summer job – or develop a much-needed work ethic for later life. Selling our young people a pipe dream of a pay rise, whilst actually costing them jobs, is a recipe for eroding trust.
Suppose you’re a 16-year-old doing a Saturday job for £4.35 an hour, and that your boss was required to give you a 153% pay rise in order to keep you on. What do you imagine the chances are that you’d still have a job?
It is economics, not altruism, that leads bosses to take on youngsters. Take away the incentive and I fear many will be jobless.
With youth unemployment at nearly 40% in some European countries, it is rarely a good idea to copy bad policies – and the ‘Europe-wide minimum wage’ often proposed in the European Parliament would only make matters worse.