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Assess the arguments for and against the national minimum wage (NMW) The national minimum wage was introduced in the UK in April 1999 by the Labour government. Essentially it formed a major part of their manifesto as it convinced the average population that Labour were beneficial for everybody. However, they would argue against classical economics and suggest there are wide spread benefits to be gained. The main argument is that the NMW would alleviate poverty across the country. This is an equity issue that has constantly concerned society and would go some way to redistribution of income. It is a social belief that if every one is 'well off' and lives above the poverty line, there will be positive social externalities for all. For example, those living in poverty are usually more susceptible to disease due to poor living standards. This in turn costs the taxpayer money through NHS treatment....

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