HNWI Posted October 27, 2021 Share Posted October 27, 2021 20 minutes ago, Ramseyboi said: I would be absolutely amazed if I haven’t spent a period of my life with less than you ever have, absolutely astounded. You crack on and assume what you want though 🙄 You must live some sort of dual existence given some of your previous posts on this forum 1 1 1 Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted October 27, 2021 Share Posted October 27, 2021 7 minutes ago, HNWI said: You must live some sort of dual existence given some of your previous posts on this forum Bit harsh. His mortgage was half his annual salary so he only had 1 and a half times the average wage left over to live off after paying for a roof over his head. I can see it must have been a struggle. If only there'd been zero hours options in those days 2 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted October 27, 2021 Share Posted October 27, 2021 14 minutes ago, offshoremanxman said: There is no magic bullet to this. The market will decide what is a fair rate. If employers don’t pay reasonable wages people are just going elsewhere. Government doesn’t need to intervene. This is turning into a perfect storm and some of it is of Government's own making, wage demands and expectation are largely driven by the cost of living. That's fine for Govt and other PS workers who simply expect to receive negotiated annual settlements and the demands for the money to cover them do not impact in the same fashion as the private sector which is a very different matter in respect of finding the funds. Currently energy is an unavoidable external influence but legacy costs and debts from both past and present Govt policies, failures and cock-ups are significantly adding to that and are not going to go away any time soon. It is going to add up to some very, very difficult times and some may not choose to stay here to experience them. 2 Quote Link to comment Share on other sites More sharing options...
Ramseyboi Posted October 27, 2021 Share Posted October 27, 2021 40 minutes ago, HNWI said: You must live some sort of dual existence given some of your previous posts on this forum There is best part of 15 years gone by since I was 35. If you want to search more you will likely find reference to a divorce and illness that left me with absolutely nothing. In fact less than nothing and living off the basic incapacity benefit for nearly two years which didn’t even come close to covering the rent never mind food. Better now though and back earning to a point where the work/life balance is spot on. I know exactly what it is like to not be able to afford the bus to a drs appointment or to not have a bank account as you can’t get one, so having to pay to get a bus to collect your £80 a week in cash. Did you know that when on PAYG or uses all your credit if you have to phone the dr or the benefits office? Life is a rollercoaster baby. Some of us have lived the highs and the lows. I wouldn’t wish those low years on anyone but the ability to have been able to earn minimum wage would have been a god send back then. 1 Quote Link to comment Share on other sites More sharing options...
HeliX Posted October 27, 2021 Share Posted October 27, 2021 7 hours ago, Ramseyboi said: Here is what happens when people have more money in their pockets and businesses have to find that money to pay them. Prices go up, and the extra in your pocket loses value. https://bbc.in/3nrIXaS?fbclid=IwAR1gy7ILuqCJYFdXDnaVarqfcAB22FmBXbwClvxYLn10eW-bZGedXlJZAfg They estimate the cost of that rise (plus energy costs rising) to be 1mil a year. Prior to the pandemic they were making more than 1mil profit a year. But obviously prices will have to go up to appease shareholders. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted January 23, 2022 Share Posted January 23, 2022 Minimum Wage rise to go before Tynwald next month, headline rate up from £8.25 to £9.50 per hour, 15%. Quote Link to comment Share on other sites More sharing options...
Max Power Posted January 23, 2022 Share Posted January 23, 2022 33 minutes ago, Non-Believer said: Minimum Wage rise to go before Tynwald next month, headline rate up from £8.25 to £9.50 per hour, 15%. I would have thought that it would be easy to work out what the average minimum wage should be? An hourly rate of £9.50 isn't what I would have thought could provide the modern equivalent of food and shelter, transport, communication, heat, light and power plus a night out once in a while for a single person on this overpriced island? 2 Quote Link to comment Share on other sites More sharing options...
Banker Posted January 23, 2022 Share Posted January 23, 2022 4 minutes ago, Max Power said: I would have thought that it would be easy to work out what the average minimum wage should be? An hourly rate of £9.50 isn't what I would have thought could provide the modern equivalent of food and shelter, transport, communication, heat, light and power plus a night out once in a while for a single person on this overpriced island? Well that would be living wage which is £10.87 as at November 2021 so probably £11.50 by now. However a 15% uplift is a step in right direction & Tynwald have committed to bringing minimum wage to living wage. lots of businesses are already paying more eg McDonald’s £10ph 1 Quote Link to comment Share on other sites More sharing options...
finlo Posted January 23, 2022 Share Posted January 23, 2022 Never fear, I'm sure they can dream up plenty of ways to relieve any gains with new stealth taxes. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted January 23, 2022 Share Posted January 23, 2022 The 15% rise is less impressive when you consider that it hasn't gone up since 1 October 2019. 4 Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted January 23, 2022 Share Posted January 23, 2022 I think it says a lot about the new administration that they awarded Manx Gas a 27% price rise a good three months before they're getting round to deciding on whether to give minimum wage earners a 15% rise. Apparently maintaining the profits of a multi-million pound conglomerate is of considerably higher priority than reducing the shortfall in the pay of a full time worker from what it actually costs to live here by the Government's own figure, a figure which, in common with the previous gas price cap, was decided upon before the recent increases in energy prices. Quote Link to comment Share on other sites More sharing options...
2112 Posted January 23, 2022 Author Share Posted January 23, 2022 (edited) 1 hour ago, Roger Mexico said: The 15% rise is less impressive when you consider that it hasn't gone up since 1 October 2019. If the minimum wage had increased in the intervening years, then the proposed increase may be more palatable for businesses to cope with. The covid pandemic hasn’t helped and IOMG foot dragging over this topic (no increase in 2020 or 2021)certainly hasn’t helped. A rise of £1.25 whilst welcome to those on a minimum wage rate, to some employers is a lot to find, due to the large increase. There maybe some job losses. It’s likely the minimum wage will increase again at the next budget in the UK, and if the cost of living issue will affect people, could another minimum wage increase be slipped out as a way of deflecting criticism of the cost of living - possibly increasing the rate to £10+ hr? If there is a leadership election within the Conservative Party, a change of leadership will bring a change of priorities. The cost of living crisis will also affect the IOM, whilst tax may be lower, the cost of living is a lot higher. Might there need to be another minimum wage increase within the 12 months? Edited January 23, 2022 by 2112 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted January 24, 2022 Share Posted January 24, 2022 While a increase in minimum wage has to be a good thing as above its still a massive worry for lots of employers I'm sure . A ex boss of mine whos a great employer is seriously worried about it as his business has been greatly affected by TT not happening and of course Covid . With all the other price rises and lots of his goods being fixed prices from suppliers the ability to claw back the money to pay for all the increases is very narrow and to still provide a level of service . 2 Quote Link to comment Share on other sites More sharing options...
Stu Peters Posted January 24, 2022 Share Posted January 24, 2022 21 minutes ago, Numbnuts said: While a increase in minimum wage has to be a good thing as above its still a massive worry for lots of employers I'm sure . A ex boss of mine whos a great employer is seriously worried about it as his business has been greatly affected by TT not happening and of course Covid . With all the other price rises and lots of his goods being fixed prices from suppliers the ability to claw back the money to pay for all the increases is very narrow and to still provide a level of service . Very good point. Government doesn't increase the minimum wage, they force employers to do so. And it willl have a trickle up effect on other low earners wanting to maintain their pay differential. I'm not against it but worry about the effect on small businesses who are already struggling. Quote Link to comment Share on other sites More sharing options...
John Wright Posted January 24, 2022 Share Posted January 24, 2022 7 hours ago, Numbnuts said: While a increase in minimum wage has to be a good thing as above its still a massive worry for lots of employers I'm sure . A ex boss of mine whos a great employer is seriously worried about it as his business has been greatly affected by TT not happening and of course Covid . With all the other price rises and lots of his goods being fixed prices from suppliers the ability to claw back the money to pay for all the increases is very narrow and to still provide a level of service . 6 hours ago, Stu Peters said: Very good point. Government doesn't increase the minimum wage, they force employers to do so. And it willl have a trickle up effect on other low earners wanting to maintain their pay differential. I'm not against it but worry about the effect on small businesses who are already struggling. The problem with that approach is that it means that the rest of us, tax payers ( individuals and businesses small and large ) end up subsidising small businesses and those employing on zero hours, by paying EPA ( or in a previous existence FIS ) and supplementary pensions, free school meals etc. Minimum, or living, wages aren’t high. If a business can’t survive other than exploiting its work force by paying less than they are wort, why should the rest of us subsidise it. The UK, and by extension the IoM, has the largest pay differentials in Europe. Time for those at the top to take the strain, for there to be a cap on differentials, or much higher tax rates for top earners. 2 6 Quote Link to comment Share on other sites More sharing options...
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