Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage healthy philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, booking First, cathode-ray oscilloscope up minimal Wage Law fix chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional begin is that it views the hire almost purely as a cost. It is accepted that payment atomic number 18 a cost, but they also are an income. Minimum Wage Law can increase yield that build up aggregate income. If income rises, spending exit increase, motive on products will increase. high(prenominal) production will require much than labour, and indeed employment can also rise. In UK after tokenish occupy was set up, the unemployment rate even progress on falling from 6.2%in 1998 to 5% in 2001. try out that minimum wage will not cause unemployment plus productivity Secondly, Higher capaci ty utilization can retell 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 confederacy 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 different subsidy schemes and anti- poverty programs. to a greater extent wages enable citizens to earn enough for their living. The money resources can indeed 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 air 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

If you want to get a full essay, visit our page: write my paper