Tuesday, 22 May 2012

Workers Rights

The Tories seem to be of the opinion that the way to growing the economy relies on eroding the national minimum wage especially for younger workers and scrapping employment laws for all. So if I have it right the way out of the crisis is to trample the few rights that employers have gained under the last Labour Government. And the present predicament is nothing to do with collapsing confidence, banks refusing to lend and demand through the floor. I would conclude that the arguments are being advances are fatuous.

I am getting rather tired of the very wealthy placing the burden of the cuts and a reduction of living standards on the backs of the low paid, insecure worker. I am firmly of the opinion that many big companies are keeping their profits nice and high and bonuses for Chief Executives nice and fat. Recently the pay of the leaders of the top FTSE companies was reported by 47% at a time when the wages of many are at stand still or are being eroded.

The present crisis and our inability to get out of the greatest economic depression for over a century is not because minimal employment rights improved in the last decade or because a very basic minimum wage was established initially at £3.60.