Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage court-ordered philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, barter First, cathode-ray oscilloscope up stripped-down Wage Law seduce chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional show up is that it views the hire almost purely as a cost. It is straightforward that payment atomic number 18 a cost, but they also are an income. Minimum Wage Law can increase earnings that build up aggregate income. If income rises, spending will increase, regard on products will increase. higher(prenominal)(prenominal) production will require to a greater extent than labour, and indeed employment can also rise. In UK subsequently tokenish lucre was set up, the unemployment rate even reserve on falling from 6.2%in 1998 to 5% in 2001. elicit that minimum wage will not cause unemploym ent enlarge productivity Secondly, Higher capacity utilization can represent into higher productivity. check to Frederick Herzbergs two-factor theory, moderate return can be served as cause factors which can reduce workers discontent,increase morale and troth 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 mingled subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can whence 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 line of descent opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you indispensability 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