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Barry, there is a complete disagreement here between your views on this matter and those of - probably - the vast majority of people. Some argue for an increase of the minimum wage, you are arguing for a complete stop to minimum wage and working tax credit.
What you suggest would never be agreed by any of the three major parties in Parliament.
As for inflation due to an increase in minimum wage, if within a certain limit, a slight one-off inflation reaction would be acceptable. The benefits would by far outweigh the negative aspect, as many millions of people would have a lot more money to spend in the economy.
Your theory, though, implies utter stagnation, and would see shops closing in even greater numbers as people currently counting the pennies would quite simply go financially bust and masses would sign on.
Please believe me, if a minimum wage of £6 odd went down to, say, £4 an hour, once the min. wage were abolished, that employee would go straight and sign on.
Unless they were owning their own house and didn't need to pay rent or mortgage.
Recipe for utter economic disaster and social collapse of Society!
