Jonathan Reynolds MP, Shadow Secretary of State for Business and Trade
25 years ago, the National Minimum Wage was a landmark moment for British workers. A bold, brave decision that, as a country, we believed all work has value and that all work should pay. It has lifted the pay of millions and is now recognised as one of the most successful UK Government policies of all time. Some argued that the National Minimum Wage Act would cause widespread unemployment as employers would be unable to afford increased staffing costs. This never came to pass; unemployment actually fell, and the minimum wage was a triumph.
It meant lower paid workers’ pay rose faster than medium and higher wages, meaning the retail workers for example, are today paid an average of £6000 higher than they would have been without the legislation introducing a wage floor.
Today, after fourteen tough years of Conservative rule, austerity under Cameron, Brexit mess under May, party-gate under Johnson, economic disaster under Truss and stagnation under Sunak – Britain once again needs bold action to give power back to working people.
That’s why Labour have committed to a New Deal for Working People. A package of measures to tackle low pay and insecurity, ending fire and rehire, banning exploitative zero hours contracts, more support for the self-employed, encouraging family friendly workplaces and speeding up the closure of the gender pay gap. We will also bring in the first sectoral ‘Fair Pay agreement’ in the social care sector, driving up terms and conditions, stop Conservative attempts to weaken your voice at work, repealing anti trade union laws and giving unions what they need to bargain and win better pay and conditions.
Just as we did a quarter of a century ago, Labour is ready to grow the economy in a way that works for workers. Big problems require big solutions. We are ready to lead the change Britain needs.
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