Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage profound philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, traffic First, cathode-ray oscilloscope up token(prenominal) Wage Law rear chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional near is that it views the hire almost purely as a cost. It is align that payment be a cost, but they also are an income. Minimum Wage Law can increase bribe that build up aggregate income. If income rises, spending impart increase, beg on products will increase. high(prenominal) production will require much than labour, and indeed employment can also rise. In UK after tokenish lease was set up, the unemployment rate even harbour on falling from 6.2%in 1998 to 5% in 2001. promote that minimum wage will not cause unemployment profit productivity Secondly, Higher capacity util ization can transform into higher productivity. check to Frederick Herzbergs two-factor theory, moderate payment can be served as cause factors which can reduce workers discontent,increase morale and affaire 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 miscellaneous subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can therefore reallocate onto some infrastruct ures 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 telephone line opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you wishing to get a full essay, order it on our website: OrderCustomPaper.com

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