Minimum Wage versus Earned Income Tax Credit

UK might be embarking on a fascinating real world experiment:

http://www.telegraph.co.uk/finance/budget/11726159/Budget-2015-George-Osborne-gives-Britain-a-pay-rise.html

http://www.theguardian.com/uk-news/2015/jul/08/budget-2015-uk-gdp-other-rich-nations-george-osborne

Related:
http://www.economist.com/news/finance-and-economics/21656710-reducing-wage-subsidies-would-hurt-workers-more-their-employers-credit-where