Raising the minimum wage simply will not work. At the most basic level, when the costs of employment rise, the business in question will simply pass on those costs to the customer. Thus, any rise in the minimum wage will simply be wiped out as a rise in commodities will occur in response.
The current system is absurd- So far we have a system where low skill/ low income work simply isn't paid enough and they get top ups from the state in the form of working tax credits. This top-up requires administration, which is an additional cost to the whole operation. What we need is for employers and businesses to have actual incentive to pay a living wage to their workers- this way working tax credits can be removed and those on low incomes can actually have a worthwhile quality of life.