that maybe what he means but im sure i remember watching something on the bbc last year about there being around 1 million empty properties across the uk sitting empty for one reason or another. so not sure if land lords would drop the rents that much at all.
the biggest excuse (and it is a excuse) people make for getting rid of the min wage is to make the uk more competitive, the small problem is we all know that it would be a race to the bottom as far as wages. and people would take the jobs as they need the money.
the min wage now isnt high enough to live on hence we have working tax credits, so how people think we can have no min wage is beyond me.
It may be a race to the bottom, but there will always be a limit below which people are just unwilling to work, regardless of the benefit. When that starts happening, companies may well begin to raise salaries to get people who are actually interested in working.
For instance, if you have a customer facing role which at the moment is minimum wage, would you rather pay someone less and have a miserable git working there and dealing with customers, or pay someone more and get someone who actually wants to be there?
Additionally, it may also create additional jobs as companies may think that rather than having one person at £8 an hour, it is worth more to have 2 people in at £10 per hour. If a company wouldn't hire someone because it can't afford to pay the minimum wage, but does have a job opening at a lower wage, why should it be restricted from creating that job? Is it really better to have someone earn nothing rather than earn less?
As Dolph mentioned, this can't be an isolated action and there would need to be further reforms too, but it also can't be presumed that it is a good thing without questioning it. Personally, I would say that it is better to have someone paid less than minimum wage and then supported by the government in some way, rather than have someone paid nothing and fully supported by the government because there is no job out there.