I think Junkyard has a point on low pay. We should have a level of salary for the poorest paid that offers a fair living standard, and is affordable by the employer. I think the minimum wage in the UK is set too low, and should be higher (£8.50?).
Housing costs are also a problem and can only really be fixed by building more houses ASAP.
Employers can only succeed if they are profitable, so yes ensuring that they don’t pay “over market rates” for people is part and parcel of this. If society thinks the “market rates” are too low for the lowest paid then this has to be fixed by legislation as you need to change the rules for ALL employers to keep the playing field level.
Interestingly, China is no longer the “low cost” centre it once was, salaries and taxation are pushing work out to Vietnam and also causing (hurray!) work to be brought back to the UK as in some markets we can now compete.