Conservative Party (UK) others. Until 1999, Conservatives opposed the creation of a national minimum wage, as they believed it would cost jobs, and businesses would be reluctant to start business in the UK from fear of high labour costs. However the party have since pledged support and in the July 2015 budget, Chancellor George Osborne announced a national living wage of £9/hour, to be introduced by 2020, for those aged 25 and over. The National Minimum Wage in 2012 was £6.19 for over-21 year olds, so the proposed rises in National Living Wage by 2020 will represent a significantly higher pay for many.
Minimum wage in the United States (aged 16-24), and teenagers (aged 16-19)." "The Economist" wrote in December 2013 in sum that: "A minimum wage, providing it is not set too high, could thus boost pay with no ill effects on jobs...Some studies find no harm to employment from federal or state minimum wages, others see a small one, but none finds any serious damage...High minimum wages, however, particularly in rigid labour markets, do appear to hit employment. France has the rich world's highest wage floor, at more than 60% of the median for adults and a far bigger fraction of the typical wage for the young.