I'm afraid I agree with the scrapping of the minimum wage as it is a major cause of the large increase in youth unemployment. Do you take on an experienced worker at £6.20p/h or an inexperienced 19 year old who you have to train at £6.20p/h? I know who I would take on.
It is also contributor to 10 pubs shutting a week and many high street shops going, not to mention other low skilled jobs going abroad. People with families that have these low paid job will get what they live on topped up by working and child tax credits. Young people will have the chance of a job, real world skills and from this base hopefully higher wages.
The alternative is continued high and growing unemployment.
What the west has to face up to is that we have to compete with the Eastern European, Asian, South American and African economies, by dramatically reducing our cost base of property prices, energy costs, wages and very high taxes. It is going to be a very painful adjustment, but without it we will be another Greece and 3rd world country. We all have to start living within our means, governments and individuals. The west is going to have to reinvent itself, if it doesn't than the prediction is that in 20 years time the emerging economies will control 70% of global turnover and the west 30% a reverse of where we are now.
Software development is now very much a global business. I have lost work to South African and Indian companies in the last 12 months and cannot compete with my current cost base, hence, this is one of the reasons for my pending move to the Ukraine.