What is the main aim of the national minimum wage?
Our aim is a minimum wage that helps as many low -paid workers as possible without significant adverse impact on employment or the economy.
What are the aims of minimum wage legislation?
The aims of a national minimum wage The long-term aim of a minimum wage is to remove the problem of poverty pay, which exists when the earnings from paid work do not result in a living wage and fail to push people out of poverty.
Why is the National Minimum Wage Act 1998 important?
The National Minimum Wage Act 1998 sets out the minimum amount of pay a worker is entitled to per hour. This wage is based on a worker’s age. There is also a specific rate for apprentices . It is a legal requirement for employers to pay workers the national minimum wage .
What are the objectives of national wage policy?
national wage policy must aim at establishing wages “at the highest possible level, which the economic conditions of the country permit, and it also ensures that the wage-earner gets a fair share of the increased prosperity of the country as a whole resulting from economic development.”
What is the purpose of a living wage?
The term living wage refers to a theoretical income level that allows individuals or families to afford adequate shelter, food, and other necessities. The goal of a living wage is to allow employees to earn enough income for a satisfactory standard of living and prevent them from falling into poverty.
Why are minimum wages important?
Raising the federal minimum wage will also stimulate consumer spending, help businesses’ bottom lines, and grow the economy. A modest increase would improve worker productivity, and reduce employee turnover and absenteeism. It would also boost the overall economy by generating increased consumer demand.
What was the minimum wage in 1998?
History of California Minimum Wage
| Effective Date | New Minimum Wage | Old Minimum Wage |
|---|---|---|
| January 1, 2002 | $6.75 | $6.25 |
| January 1, 2001 | $6.25 | $5.75 |
| March 1, 1998 | $5.75 | $5.15 |
| September 1, 1997 | $5.15 | $5.00 |
Why is the minimum wage important?
What is the role of the Low Pay Commission?
The Low Pay Commission is an independent body that advises the government about the National Living Wage and the National Minimum Wage.
Why was the National Minimum Wage introduced?
Throughout its period in opposition, the Labour Party was committed to introducing a minimum wage as a means of combating poverty. In 1997, the party’s General election manifesto pledged to introduce a minimum wage at the earliest opportunity.
What is the rationale for implementing policy of minimum wage?
If set too low, minimum wages will have little effect in protecting workers and their families against unduly low pay or working poverty. If set too high, minimum wages will be poorly complied with and/or have adverse employment effects.
What is the importance and need of the national wage policy?
A national wage policy must aim at establishing wages “at the highest possible level, which the economic conditions of the country permit, and it also ensures that the wage-earner gets a fair share of the increased prosperity of the country as a whole resulting from economic development.”
What are the provisions of the National Minimum Wage Act?
1. Workers to be paid at least the national minimum wage. Regulations relating to the national minimum wage. 2. Determination of hourly rate of remuneration. 3. Exclusion of, and modifications for, certain classes of person.
Are there any outstanding effects of the National Minimum Wage Act 1998?
For further information see the Editorial Practice Guide and Glossary under Help. There are currently no known outstanding effects for the National Minimum Wage Act 1998, Section 1. Revised legislation carried on this site may not be fully up to date.
What is Article 1 of the national minimum wage?
1 Workers to be paid at least the national minimum wage. (1) A person who qualifies for the national minimum wage shall be remunerated by his employer in respect of his work in any pay reference period at a rate which is not less than the national minimum wage. (c) has ceased to be of compulsory school age.
When was the first date of the National Minimum Wage Act?
In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help. There are currently no known outstanding effects for the National Minimum Wage Act 1998, Section 1.