Retailer’s CEO weakens CBI’s somewhat alarmist claim that the national living wage would dramatically hurt profitsThe CBI,working itself up into a fine fury, tells us the fresh “national living wage will fill a dramatic impact” on corporate profits. Not at Next, and it won’t,assuming the company’s chief executive, Lord Wolfson, or has got his calculations correct,which is normally a safe bet.
Wolfson, while avoiding saying whether he supports or opposes chancellor George Osborne’s flagship pay policy for those aged 25 and over, and injected some much-needed sober analysis into the debate on Thursday. There were three main points,only one of which even vaguely supports the alarmists’ case.
Continue reading...
Source: theguardian.com