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 South Korea trend and evaluation in 2016, the number of workers receiving less than the minimum wage continues to soar. Since the Minimum Wage Act was enacted in 1986, the minimum wage has been steadily rising. However, there are endless discussions over minimum wage laws and minimum wage increases. The following table summarizes the pros and cons of minimum wage. Last year, the minimum wage committee decided to raise the minimum wage in 2018 by 16.4% from the previous year to 7,530 won. This is the largest increase (1060 won) since 2001 (16.8 percent). The effectiveness and feasibility of minimum wage increases