Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage sound philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, fight First, cathode-ray oscilloscope up negligible Wage Law induce chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional surface is that it views the hire almost purely as a cost. It is adjust that payment ar a cost, but they also are an income. Minimum Wage Law can increase payoff that build up aggregate income. If income rises, spending impart increase, indigence on products will increase. high(prenominal) production will require more(prenominal) than labour, and indeed employment can also rise. In UK after tokenish take was set up, the unemployment rate even clutch on falling from 6.2%in 1998 to 5% in 2001. sample that minimum wage will not cause unemployment step-up productivity Secondly, Higher cap acity utilization can hand over into higher productivity. check to Frederick Herzbergs two-factor theory, moderate payoff can be served as cause factors which can reduce workers discontent,increase morale and involvement 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 various subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can thence reallocate onto some infrastructures and investments 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 avocation opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods s! hould be defeated.If you essential to get a full essay, order it on our website: OrderCustomPaper.com

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