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In a mixed economy like the UK to what extent are wages a function of Government policy?

Presumably at the bottom of the pay scale the minimum wage could be said to be a function of Government. And the rate of wage increase up the skills ladder could be related to the availability of cheap/low-skilled labour, which could be said to be function of migration policy.

But presumably the market itself remains an important (the most important) element in wages?

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    $\begingroup$ Education policy matters too, but another issue is public sector pay, which affects private sector pay through competition for the same workers $\endgroup$ – Henry Jan 31 at 0:34

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