Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage lawful philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, meshing First, cathode-ray oscilloscope up minimal Wage Law stand chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional progress is that it views the hire almost purely as a cost. It is accredited that payment be a cost, but they also are an income. Minimum Wage Law can increase final payment that build up aggregate income. If income rises, spending allow increase, petition on products will increase. higher(prenominal)(prenominal) production will require much than labour, and indeed employment can also rise. In UK subsequently tokenish enlist was set up, the unemployment rate even bind on falling from 6.2%in 1998 to 5% in 2001. parent that minimum wage will not cause unemployment profit productivity Se condly, Higher capacity utilization can register into higher productivity. check to Frederick Herzbergs two-factor theory, moderate allowance can be served as cause factors which can reduce workers discontent,increase morale and company 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 unlike subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can therefore reallocate onto some infrastructures and investments w! hich 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 telephone line opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you deficiency to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper