Oct. 2, 2023 /Economy/ — The UK Chancellor’s decision to raise the minimum wage and impose sanctions on people claiming state benefits who refuse to take available jobs can be seen as a carrot and stick approach.

The carrot is the increase in the minimum wage. This will give low-paid workers more money to spend, which will boost the economy and help people to afford basic necessities. The stick is the sanctions that will be imposed on people who refuse to take available jobs. These sanctions could include a reduction in benefits, or even a complete loss of benefits. Continue reading →