The national minimum wage – 25 years on
Machin, S.
(1 April 2024)
The national minimum wage – 25 years on.
British Politics and Policy at LSE.
(1 April 2024)
The national minimum wage – 25 years on.
British Politics and Policy at LSE.
This month marks 25 years since a national minimum wage was introduced in the UK. Once a controversial policy, due to fears that it would lead to fewer jobs, it has instead proven to be highly successful. The minimum wage is now a fully accepted part of the labour market. Stephen Machin reflects on how the minimum wage has reduced wage inequality and what needs to happen next.