Higher minimum wage will boost economy of cities

A small rise in the minimum wage in Britain’s main city regions would encourage employers to deploy workers more productively and help boost local economies by more than £1bn, says a thinktank. According to the study, by the Smith Institute, employers need the spur of a higher minimum wage to shake them out of a spiral of low productivity and low growth that depresses company revenues and has trapped about 2 million workers on the current minimum wage of £7.38 an hour...
Read more: https://www.theguardian.com/society/2018/sep/03/higher-minimum-wage-will-boost-economy-of-cities-smith-institute?source=Snapzu