Incentivising companies to raise minimum wage

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Incentivising companies to raise minimum wage

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Tax cut incentive for companies that pay above a new level of minimum wage. ---> Benefits to company: Money saved in tax cut goes to the employees; Employees are happier to work and therefore show more productivity; Ability to offer a better salary attracts talent. ---> Benefits to employee: Satisfaction that their work is worthwhile if they are paid well; Raising the living standard in Britain for the poorest families ---> Benefits to society: Greater incentive to work than to remain on benefits; More people working will lead to less crime due to relieving frustrations of the poorest in society. Also encouraging youths to work will take them off the streets ---> Benefits to the Government; Money lost in tax cuts to companies will be regained through taxing the employee salary, less people claiming benefits, reducing costs with policing criminal behaviour

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