This is what the IFS said
According to the Institute for Fiscal Studies (IFS), Labour and Conservative plans to increase the National Minimum Wage (NMW) could costs jobs.
If they are elected both parties plan to raise the NMW significantly.
The IFS stated that there will be a point where higher wages will hit employment. This would penalise workers who are supposed to benefit from higher pay.
Labour has said its plan would help with living standards, the Tories have not commented.
A Labour spokesperson said: “Labour’s £10 an hour minimum wage is in line with reputable forecasts of the wage needed to maintain a decent standard of living by 2020 and put an end to poverty pay.”
Some Tory MPs have said higher pay is good for businesses
In its report the IFS said there may be a case for a gradual increase, it argued, “but increases on the scale, and at the speed being proposed, create big risks”.
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