Nerissa Chesterfield writes for City AM
In the column Nerissa argues that we do have a serious cost of living crisis in London, but the solution is not to force companies to increase pay. A London living wage that arbitrarily fixes minimum wages to living costs is risky at best, and potentially harmful for those whom it is trying to help at worst. If the wage is set too high, companies may be forced to cut hours, end in-work perks and even let go of some employees altogether to make ends meet.
Read the full article here.
Further IEA Reading: The Minimum Wage: Silver Bullet or Poisoned Chalice?