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 ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.