I’ve often thought that the minimum wage was counterproductive but couldn’t express it as succinctly and clearly as Jamie Whyte managed to in his article yesterday [There's no logic behind the workfare proposal]. But scrapping the minimum wage would also need to go hand in hand with a reduction or a cap on benefits – why would anyone take a £4/hour job if the dole pays better?
Energy trade wars
Will Straw omitted two critical issues [in The energy policy paradox, Monday]. First, why does Britain have a lower gas storage facility than any other EU country? Second, energy companies always seem to be short when spot prices are rocketing, but have purchased huge volumes forward when the spot price is collapsing. If their energy traders are useless the cost shouldn’t fall on British consumers.
David West, retired City money trader
[Re: Better squeezed than baffled by tax breaks, Tuesday]
Ron Paul didn’t have the support of 30 billionaires because his economic policies were based on extreme isolationism.
[Re: Hysteria over student visas is damaging Britain’s future growth, yesterday]
Every UK MBA’s worst nightmare...
Louise Chow, @lougirlie