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 law have national minimum wages. Many countries, such as Sweden, Finland, Denmark, Austria, Italy, and Cyprus have no minimum wage laws but rely on employer groups and trade unions to set minimum earnings through collective bargaining. The first nationwide minimum wage in France was introduced via the Interprofessional Guaranteed Minimum Wage ("SMIG" - "Salaire minimum interprofessionnel garanti") law, passed in 1950 and accompanied by a High Commission for Collective Agreements (to set the wages based on average cost of living) and a companion law known as "SMAG" for rural/agricultural occupations. The SMIG, which established one baseline hourly wage rate for the