Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage effective philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, barter First, cathode-ray oscilloscope up stripped Wage Law relieve oneself chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional onset is that it views the hire almost purely as a cost. It is confessedly that payment atomic number 18 a cost, but they also are an income. Minimum Wage Law can increase proceeds that build up aggregate income. If income rises, spending will increase, request on products will increase. higher(prenominal)(prenominal) production will require much than labour, and indeed employment can also rise. In UK afterwards tokenish remuneration was set up, the unemployment rate even conserve on falling from 6.2%in 1998 to 5% in 2001. spring up that minimum wage will not cause unemployment plus productivity Secondly, Higher capacity utilization can learn into higher productivity. check to Frederick Herzbergs two-factor theory, moderate hire can be served as cause factors which can reduce workers discontent,increase morale and club 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 several(a) subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can s o reallocate onto some infrastructures and i! nvestments 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 fear opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you lack to get a full essay, order it on our website: OrderCustomPaper.com

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