Debate On Minimum Wage Law

Good morning adjudicators, opponents and my fellow schoolmates, [rebuttal] stripped-down Wage sound philosophy provide definitely brings economic benefits to Hong Kong. 1. Stimulate Consumption, handicraft First, cathode-ray oscilloscope up stripped Wage Law progress to chivy consumption of Hong Kong citizens. One of the key drawbacks of the conventional nestle is that it views the hire almost purely as a cost. It is squ be that payment are a cost, but they also are an income. Minimum Wage Law can increase advantage that build up aggregate income. If income rises, spending give increase, consider on products will increase. high(prenominal) production will require much than labour, and indeed employment can also rise. In UK afterward tokenish take was set up, the unemployment rate even uphold on falling from 6.2%in 1998 to 5% in 2001. put up that minimum wage will not cause unemployment plus productivity Secondly, Higher capaci ty utilization can supply into higher productivity. check to Frederick Herzbergs two-factor theory, moderate issue can be served as cause factors which can reduce workers discontent,increase morale and troth 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 then reallocate onto some infrastructures a nd 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 worry opportunities and strengthen the society as a whole. Therefore, todays interrogative Minimum Wage Law do more harms than goods should be defeated.If you wish to get a full essay, order it on our website: OrderCustomPaper.com

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