Economic Crisis In The U.K.

Firstly, the cost of living is higher in the U.K. than any other country in the E.U.-nearly 65 per cent of wages go to paying taxes, which are also highest in the E.U.

Some power bills have increased by nearly 70 per cent and mortgage payments have gone up by as much as 50 per cent in recent years. House prices are out of line with inflation, costing between 2 to 4 times the amount of 10 years ago- renting has also become more expensive.

The debt problem levels in the U.K. has increased by 20 per cent in 2007. The recent 30 per cent increase home repossessions since late 2006 is an indication of financial depression within the low-wage earning community, with people losing homes, belongings and families being split up.

In Britain's current high inflation and low wage economy, rising university costs puts strain on young people even before they complete studies. Rising living costs prevent more young people from studying, and career ambitions are abandoned for low-pay jobs. Many take big loans for mortgages and luxuries, which have become more expensive.

The minimum wage needs to increase, to compensate for inflation rises and bill increases. In a 40 hour workweek, a minimum wage earns 214 pounds. Take tax away, and wages drop dramatically.

It is unacceptable that an advanced country like the U.K. should have such a low minimum wage. When public sector workers strike for more wages, it indicates that the minimum wage is not adequate.