Dr Oliver Hartwich on Newstalk ZB - Early Edition about the minimum wage and Social Unemployment Insurance
9 February, 2023
A lift in the minimum wage is set to have a domino effect.
The Government has announced the minimum wage will rise by $1.50 to $22.70 from April. It also announced a social insurance scheme won't be passed this term.
On Newstalk ZB, Oliver Hartwich discussed the Government's announcements about the minimum wage and Social Unemployment Insurance.
Oliver Hartwich says the first effect is an extra cost for businesses. He also told Kate Hawkesby when you increase minimum wage, other wages have to follow. Hartwich says on top of that it will probably create some expectations of further inflation because these new costs will be passed on to consumers.