The National Minimum Wage (NMW) was introduced by the Labour Government on 1 April 1999 as a labour regulation to replace the wages council which had been abolished in 1993 as they were considered inappropriate. It is regulated under the National Minimum Wages At 1998 and the Minimum Wages Regulations 1999 and covers all workers except farm workers' wages which are regulated by the Agricultural Wages Board. (Rose 2004) defines NMW as a minimum wage any employer must pay its workers as defined by the law and is set as a price floor. All workers have a legal right to earn at least a minimum wage and all employers have a duty to pay their workers not less than a minimum wage.

The labour regulation was set to reduce poverty and income inequality, reduce the risk of firms compteting on wages in order to maximise profits especially targetted at industries with a substantial proportion of lowly paid jobs. The Inland Revenue is responsible for enforcing the NMW. Although most of......

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Title: Effects Of The National Minimum Wage On Unemployment And Inflation
Approximate Word Count: 1326
Approximate Pages: 6 (250 words per double-spaced page)

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