I am in the one in five…(apols to UB40)

Posted: October 17, 2012 in This is the Voice of Lefty Reason

Disheartening news from the UK Labour Market yesterday as it was revealed that one in five employees in London are being paid “poverty wages” as they attempt to live in the UK’s most expensive city.  The National Minimum Wage is just that; a National rate, a sort of one size fits all policy that has great benefits in the blighted cities of the North but has little real effect when vast regional cost-of-living imbalances are taken into account.  Even the Bouffant-Buffoon, BoJo, has called for a raise in London wage rates.  In a wholly surprising and gladdening the heart type manner even some staunch capitalists have reacted in what some of us would consider the “right way”.  The boss of a city cleaning company has actually introduced what he calls the “London Minimum Wage”, set above NMW, in an attempt to lift his employees out of poverty.  Heady stuff.  In a first for the profit driven greed monsters, the MD of the company even used the words “morally right to do so” when discussing this matter.  Guess what the effect was on his employees?  An overwhelmingly positive reaction that has resulted in lower staff turnover and higher levels of motivation.  This, of course, makes the company more efficient and therefore more competitive; wins all round for the company, its clients and its workers.  Perhaps other companies, when forced with tough times, could invest in its workers rather than slash wages in an attempt to cut costs?  Just a thought…


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