What overarching principle is the National Minimum Wage based on?

The National Minimum Wage is fundamentally based on the principle of fair remuneration for all work. This principle ensures that all workers receive a wage that is considered the minimum acceptable for their contributions, thereby promoting equity and fairness in the labor market. The aim is to protect employees from exploitation and poverty by establishing a baseline income that workers must be paid, regardless of their age, experience, or type of job.

This approach addresses issues of inequality and helps to lift individuals and families out of low-income situations. It aims to provide a standard that encourages a fair living wage, taking into account the cost of living and economic conditions. By focusing on fair remuneration, the National Minimum Wage fosters a more just society where every worker is recognized for their efforts and contributions to the economy.