Kirk Hope: Business NZ CEO says the ability for businesses to pass minimum wage hike cost on is very low

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Recorded08 Feb 2023

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There are concerns the hike to minimum wage could be devastating for businesses. The Government has announced the minimum wage will rise by $1.50 to $22.70 from April. Business New Zealand CEO Kirk Hope told Mike Hosking the ability for businesses to pass this cost on is very low. He says if a business has no capital left effectively to pay this, and can't increase prices because then they'll face a decrease in demand, they're in a difficult position. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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