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- 1SME and retail groups warn minimum wage hike could raise costs●SME, retail groups warn minimum wage hike could trigger ‘cascading’ cost increases
Business groups representing small and medium enterprises and retailers are warning that a planned increase in the minimum wage could set off cascading cost increases across supply chains. They argue higher wage bills would push firms to raise prices, squeezing consumers and smaller businesses. No details on the wage amount, country or timing were given, and responses from government officials have not been reported.