Category
🗞
NewsTranscript
00:00 At the beginning of this month, the new minimum wage level in Britain, which is 11 pounds and 44 pence per hour for workers aged 21, entered into force.
00:15 This comes after the wages jumped by almost 10%. But the British government seems to be committed to ending its efforts in the future to use the minimum wage limit to narrow the gap between low-income workers and people who get higher wages, which saves some companies.
00:35 Workers say that the increase in wages in the past two years was a natural result of the jumps in wage rates, which affected their role in either increasing prices or reducing employment.
00:47 Does the minimum wage limit represent a solution to this problem? And why did it fail to find a solution to the issue of inequality in wages?
00:57 Britain entered the minimum wage limit for the first time 25 years ago to address this problem.
01:05 The Decision-making Institute for Economic Research says that the minimum wage of low-income workers has now risen by 6,000 pounds per year,
01:14 which could have been if it had increased, as is the case with the growth of standard wages, i.e. with the removal of inflation.
01:24 The Bank of England is monitoring the growth of wages, as it evaluates whether inflationary pressures in the economy are sufficient to reduce income.
01:35 Riyad Al Saadi, CNBC, London
01:39 [BLANK_AUDIO]