Wetherspoons boss Tim Martin has claimed the minimum wage is making Brits worse off in a new interview.
The minimum wage was first introduced by the Labour government in 1999, and is currently set at £12.71 an hour.
Labour committed to scrapping the lower minimum wage bands for younger workers in their general election pledge, although there have been recent reports that the government is considering dropping this pledge.
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It comes as the Office for National Statistics reported that youth unemployment was at its highest level for more than a decade.
Wetherspoons founder Tim Martin has weighed in on the debate around the minimum wage.
Speaking to The Telegraph, the founder of the popular pub chain said: “The minimum wage seems to be lowering the standards of living by reducing investment and job vacancies and by increasing pay for new starters at the expense of experienced staff.
“It was supposed to be a safety net but it’s turned into a competition between political parties as to who will offer the biggest rise.”
Alan Morgan, head of Big Table Group which owns Bella Italia, warned that if the government scrapped the youth rate of minimum wage, it would lead to fewer jobs.
“We completely agree with giving people the same pay for the same experience and outputs.
“However, by making the pay rates the same for age groups who have less or no experience, it does create a risk of employers reducing the amount of younger people they employ.”
The youth rate of minimum wage is set to rise by 8.5 per cent to £10.85 per hour this April, while for those aged over 21 it will rise by 4.1 per cent to £12.71 per hour.