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  Inflation has killed the minimum wage, says its chief architect Sir George Bain
  
  Professor Sir George Bain says the value of minimum wage has fallen because it hasn't kept
  pace with inflation
  
  The national minimum wage is no longer working because its value has fallen, one of its key
  architects said as a new study showed it could be worth less in 2017 than it was in 2004.
  
  The landmark measure, introduced by the Blair government 15 years ago this week, has
  dropped in value in real terms in the past five years after being pegged to wages, which have
  not kept pace with inflation.
  
  Professor Sir George Bain, the first chairman of the Low Pay Commission which recommends
  the level of the minimum wage each year, told The Independent a "fresh approach" is needed
  because it is not addressing today's problems. He believes the priority is to help the 3.6 million
  people who are above the legal minimum but below the "living wage" needed for a basic
  
  standard of living. That is paid voluntarily by about 250 employers and is worth £7.45 an hour
  , or £8.55 an hour in London.

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