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How does cutting the minimum wage save the Government money

  • 25-11-2010 6:18pm
    #1
    red menace
    Closed Accounts Posts: 1,462 ✭✭✭


    I am a total noob to this economy stuff and apols if this has been asked and answeered, having trouble searching today.
    Feel free to close if it has been answered
    How does lowering the minimum wage save the government money?

    Are they subsidising low wages?

    Thanks
    Shane


Comments

  • #2
    markpb
    Registered Users, Registered Users 2 Posts: 9,388 ✭✭✭markpb


    From my understanding, it's not about saving money, it's about lowering the cost of doing business in Ireland which should entice more companies to set up here and should entice existing companies to employ more staff.


  • #3
    red menace
    Closed Accounts Posts: 1,462 ✭✭✭red menace


    Aha I just found the other thread, it seems counter intuitive to me.

    Mods please lock this other thread answers this for me


  • #4
    Kristopherus
    Registered Users, Registered Users 2 Posts: 11,907 ✭✭✭✭Kristopherus


    And also enable the Gov. to cut Social Welfare in parallel with that reduction.


  • #5
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,691 ✭✭✭✭drunkmonkey


    Kristopherus wrote: »
    And also enable the Gov. to cut Social Welfare in parallel with that reduction.

    I don't think we've seen the truth yet about what's going to happen to social welfare (the dole).
    If they don't cut the dole by a large amount this move is counter productive.


  • #6
    Kristopherus
    Registered Users, Registered Users 2 Posts: 11,907 ✭✭✭✭Kristopherus


    Probably a cut of 5%. Would agree with you if its any more.


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