Treasury's scenarios
of unemployment peaking at 13 or even 26 percent show how
harmful the timing of the Government's minimum wage hike
was, says the New Zealand Taxpayers'
Union.
Taxpayers'
Union spokesperson Louis Houlbrooke says, "Treasury
indicates thousands of businesses will be making difficult
decisions over the coming weeks about how many employees
they will lay off. These decisions will ultimately swing on
costs versus benefits, and the Government has just willfully
increased the cost of keeping a low-skilled employee
hired."
"If unemployment spikes to 13 or 26 percent as
Treasury suggests, the Government will be partially to
blame, thanks to its direct intervention on the minimum
wage."
"The Government set its minimum wage plans in
easier economic times. It beggars belief that these plans
have remained unchanged as we enter an unprecedented
employment
crunch."
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