ubiquitous
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ok, but do not forget those higher up too. Reducing minimum wage by 10% will not save very much. However, every business needs accouinants to do its books, annual returns etc. How about cutting their hourly rate by say 20 or 30 euro ? Also of course the public service pay rates should be reduced drastically....given the security + perks of such jobs, why should they be paid so much more than the private sector ?
A lot of changes, from the pay rate of the teeshock down, need to be implemented. We are the laughing stock of the world paying him more than the president of the US, Germany , France etc....all much much bigger , industrialised countries. Our other president costs a packet too - give her the average industrial wage, she has enough other perks.
I don't think any of us could disagree with any of the above proposals.
That said, any labour-intensive business that slashes the prices of its output without also reducing the cost of its input, ie labour, won't stay in business for long. And how many employees, with mortgages to pay and families to feed, will happily consent to pay cuts? That is the catch-22.