The British Chambers of Commerce has surveyed its members and the general feeling is that £5.30 is too high for the national minimum wage. In November of last year businesses rejected proposals to raise the NMW to £6.
In the largest survey on the minimum wage of 1,200 businesses, 80 per cent rejected this large increase. The BCC survey found that over half the companies questioned believe that further rises will damage employment prospects and competitiveness.
David Frost, Director General of the British Chambers of Commerce said, “British businesses supported a national minimum wage but last year we saw it rise at over five times the rate of inflation.
“Businesses have endured these massive annual increases in recent years and now is the time for restraint.
“Increases at this rate are simply not sustainable and could have a serious impact on jobs and competitiveness ”
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British Chamber of Commerce