Swiss voters reject what would have been the world's highest minimum wage

[-:Undertaker:-]

http://www.bbc.co.uk/news/business-27459178

Swiss voters reject world's highest minimum wage

Swiss voters have overwhelmingly rejected a proposal to introduce what would have been the highest minimum wage in the world in a referendum.

Under the plan, employers would have had to pay workers a minimum 22 Swiss francs (about $25; £15; 18 euros) an hour.

Supporters said the move was necessary for people to live a decent life.

But critics argued that it would raise production costs and increase unemployment.

The minimum wage proposal was rejected by 76% of voters. Supporters had argued it would "protect equitable pay" but the Swiss Business Federation said it would harm low-paid workers in particular.

The issue was the most prominent of several referendums held on Sunday.

Boy am I jealous of the Swiss.

They're outside of the European Union, they are ending open borders to the rest of Europe, they have some of the worlds lowest taxes, they have a healthy democracy with referenda held on important issues and they have their heads screwed on economically by rejecting handouts from the state which would only damage the economy and thus make everyone worse off in the long run.

Meanwhile here in Britain Ed 'spendthrift' Miliband wants to raise the minimum wage.

Thoughts?

[The Don]

You do realise that the swiss minimum wage is already far higher than that of ours? Kind of a moot point criticising Miliband for wanting to raise our one when the proposed wage would still be lower than the one you're using as a comparison.

[-:Undertaker:-]

You do realise that the swiss minimum wage is already far higher than that of ours? Kind of a moot point criticising Miliband for wanting to raise our one when the proposed wage would still be lower than the one you're using as a comparison.

Switzerland has higher wage rates so that's a non-comparison.

Geramny, until just last month, had no minimum wage. The lower the better, no minimum wage being the best.

[The Don]

Germany also has a heavy focus on trade unions to defend workers rights, which the UK is lacking.At the lower end of the wage scale people have no room to negotiate and can't afford to walk away from a job, a minimum wage prevents companies from abusing this by guaranteeing the employees receive a liveable wage.

[-:Undertaker:-]

Germany also has a heavy focus on trade unions to defend workers rights, which the UK is lacking.At the lower end of the wage scale people have no room to negotiate and can't afford to walk away from a job, a minimum wage prevents companies from abusing this by guaranteeing the employees receive a liveable wage.

Germany can have that Trade Union system as their trade unions didn't misbehave and act like utter morons, nor were they infiltrated by the far left as our Trade Unions were during the 1970s.

Thatcher's economic reforms wouldn't have been needed had the Trade Unions behaved... but they didn't.

[The Don]

Germany can have that Trade Union system as their trade unions didn't misbehave and act like utter morons, nor were they infiltrated by the far left as our Trade Unions were during the 1970s.

Thatcher's economic reforms wouldn't have been needed had the Trade Unions behaved... but they didn't.

Which explains why we need a minimum wage here in the UK.

[-:Undertaker:-]

Which explains why we need a minimum wage here in the UK.

Sorry, I disagree. We've been through this before.

In my eyes it's an attack on property rights as well as economically harmful. I agree with the Swiss decision.

[Chippiewill]

I think the swiss voters rejecting fighter jets is a far more interesting story.

[FlyingJesus]

Good move for them as it doesn't need to be any higher there. The problem I have with raising minimum wages beyond inflation is that clearly if that goes up so do other wages (as otherwise no-one will bother doing a job that's 50x harder for an extra £2 an hour) and of course so do the prices of everything because shops can set whatever prices they want and they'll need to offset the cost of paying everyone that much more, which would cause more inflation and then you increase the wages again and...