Tragedy for the poor

The Government has announced an increase in the minimum wage, starting from next October. We can only assume that they have completely lost the plot.

It means this: as the economy slowly picks up, and companies are looking cautiously to take on more workers, they cannot take on an employee for some menial task for less than about £1,000 a month, even if the employee is happy to work for that wage.

The poor guy, trying to do the best for himself and not claim on the government, will just have to stay on the dole, right when we needed him to be working.

Well done, Osborne, your Economics badge is in the post.