Whereas this province has an increasing number of citizens earning less than a living wage while working 40 or more hours a week and
Whereas the rate of inflation constantly increases this number with a stagnant minimum wage and
Whereas this condition is harmful to local business who will have fewer and fewer people who can afford their products and services and
Whereas this condition also puts taxpayers deeper in debt due to the high cost of income assistance, healthcare, lost productivity, child/ spousal abuse, suicides, and crime and
Whereas the increase of the wages of lower income earners would greatly benefit local businesses due to the fact that people who earn less would spend all their money they earn just to provide the necessities of life for their families and that the money would be spent locally and
Whereas the business community needs the ability to plan their finances
Be it resolved that the Ontario NDP present a bill to parliament and commit to upon assuming power implementing a formula that increases the minimum wage by three times the annual rate of inflation each year until it equals a living wage and then index it to the annual rate of inflation each year thereafter.
__________
Example based on approximate average of inflation over the last 10 years.
Minimum wage now $14.00/ hr. -
Yearly increase 6% = $0.84
Year 1 =1$4.84
Yearly increase = $0.89/
Year2 =$15.73
Yearly increase = $0.94/
Year 3 = $16.67
Yearly increase = $1.00/
Year 4 = $17.67
Yearly increase = $1.06
Year 5 = $18.73
Yearly increase = $1.12
Year 6 = $19.85
Yearly increase = $1.19
Yearly increase 4% = $0.70/ yea
Year 7 = $21.04
submitted by Gord Lawson
to be considered by Bruce Grey Owen Sound NDP Membership
Whereas the rate of inflation constantly increases this number with a stagnant minimum wage and
Whereas this condition is harmful to local business who will have fewer and fewer people who can afford their products and services and
Whereas this condition also puts taxpayers deeper in debt due to the high cost of income assistance, healthcare, lost productivity, child/ spousal abuse, suicides, and crime and
Whereas the increase of the wages of lower income earners would greatly benefit local businesses due to the fact that people who earn less would spend all their money they earn just to provide the necessities of life for their families and that the money would be spent locally and
Whereas the business community needs the ability to plan their finances
Be it resolved that the Ontario NDP present a bill to parliament and commit to upon assuming power implementing a formula that increases the minimum wage by three times the annual rate of inflation each year until it equals a living wage and then index it to the annual rate of inflation each year thereafter.
__________
Example based on approximate average of inflation over the last 10 years.
Minimum wage now $14.00/ hr. -
Yearly increase 6% = $0.84
Year 1 =1$4.84
Yearly increase = $0.89/
Year2 =$15.73
Yearly increase = $0.94/
Year 3 = $16.67
Yearly increase = $1.00/
Year 4 = $17.67
Yearly increase = $1.06
Year 5 = $18.73
Yearly increase = $1.12
Year 6 = $19.85
Yearly increase = $1.19
Yearly increase 4% = $0.70/ yea
Year 7 = $21.04
submitted by Gord Lawson
to be considered by Bruce Grey Owen Sound NDP Membership