Labour General Election candidate for Mayo Dr Jerry Cowley has said that the Government decision to reduce the minimum wage could have serious implications for small and medium businesses all over the country.
This is because the measure plays into the hands of really big business which stands to benefit from reduced staff costs through a reduction in the minimum wage, as well as through provisions contained in the EU/ IMF deal to eliminate the cap on the size of retail premises. This could well sound the death knell for many smaller retail outlets which will find it impossible to compete successfully with these out of town retail giants.
“Lowering the minimum wage will not only result in a greater loss of income for the lower paid but will also seriously threaten existing businesses struggling to survive against the odds,” the Labour candidate added.
