I agree, abolish the minimum wage and introduce a compulsory living wage in the UK.
I think this is what Ed Milliband was talking about when he talks about the assault on living standards. There's a cost associated with working - clothing, transport, petrol, food maybe. The cost of all these things have risen dramatically over the last few years and it's really starting to bite - it's no wonder that so many people are having to resort to food banks despite the Tory sneers.
As much as I'd like to see the minimum wage increased, we live in a world where companies can outsource just about everything.
We have already outsourced manufacturing, call centres, software development, etc, etc.
With an increased minimum wage (which I'd like to see), we'd have also to really clamp down on outsourcing. Which would mean a lot of companies leaving the UK, due to being unattractive compared to elsewhere.
In the end, we'd have to re-nationalise the essentials, and isolate ourselves from the outside world, essentially. Otherwise the profit-driven nature of all private business will always look for ways to use cheaper foreign labour, and cheaper foreign imports.