You raise an interesting point. For large companies, they'll use this as an opportunity to push salaries down. This happened in banks in London over the 90s a

You raise an interesting point. For large companies, they'll use this as an opportunity to push salaries down. This happened in banks in London over the 90s and 00s. At each 'crisis' (IR35, LTCM, credit crunch, etc.), they made staff redundant, and reduced new salary offers across the board, you could argue, almost like a cartel.