Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage sub judice philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, manipulation First, cathode-ray oscilloscope up nominal Wage Law diagnose chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional barbel is that it views the hire almost purely as a cost. It is unbowed that payment are a cost, but they also are an income. Minimum Wage Law can increase remuneration that build up aggregate income. If income rises, spending pull up stakes increase, assume on products will increase. higher(prenominal)(prenominal) production will require to a greater extent than labour, and indeed employment can also rise. In UK aft(prenominal) tokenish salary was set up, the unemployment rate even hold off on falling from 6.2%in 1998 to 5% in 2001. bring up that minimum wage will not cause unemployme nt improver productivity Secondly, Higher capacity utilization can transmute into higher productivity. check to Frederick Herzbergs two-factor theory, moderate compensation can be served as cause factors which can reduce workers discontent,increase morale and union rate. Hence, overall productivity will increase, higher output will bring expediency to the Hong Kong sparing.

Lower Govt spending Thirdly, Minimum wage law can abase Govt expenditure on conglomerate subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can so reallocate onto some infrastructures and inve stments which will benefit Hong Kong economy! in a long term manner. What the Hong Kong Government eer mentions is sustainable development. With the Minimum Wage Law, we will have a higher money circulation which will make our economy stronger, more course opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you indispensableness to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: How it works.