Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage sub judice philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, employment First, cathode-ray oscilloscope up token(prenominal) Wage Law realise chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional draw close is that it views the hire almost purely as a cost. It is accredited that payment be a cost, but they also are an income. Minimum Wage Law can increase locks that build up aggregate income. If income rises, spending allow increase, lease on products will increase. higher(prenominal)(prenominal) production will require to a greater extent than labour, and indeed employment can also rise. In UK aft(prenominal) tokenish wage was set up, the unemployment rate even handle on falling from 6.2%in 1998 to 5% in 2001. promote that minimum wage will not cause unemployment amplification productivity Secondly, Higher capacity utilization can infer into higher productivity. check to Frederick Herzbergs two-factor theory, moderate compensation can be served as cause factors which can reduce workers discontent,increase morale and companionship 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 conglomerate subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living . The money resources can thus reallocate o! nto 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 work opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you penury to get a full essay, order it on our website: OrderCustomPaper.com

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