Low cost carriers are among the best payers in the industry (granted not the best benefits). Problems BALPA would be better looking at include letting UK airlines hire foreign pilots (contracts and summers exchanges) when there are so many nationals itching for a job.
Second, its now considered standard for us to fund our training, airlines get qualified (however inexperienced) pilots ready and willing to start a job. Back when they were involved in training/type rating and taking a burden of the cost they were more inclined to be more aware of the situation. I feel the distance now makes them oblivious.
How would a minimum wage work for turbo-prop opposed to jet pilots (would you distinguish?) The industry dictates at present that by in large jet pilots receive better renumeration. Jet TR's also tend to be more expensive. Longhaul pilots tend to be away from home and family for longer then short haul, do we introduce differences for them too?
Look, not kyboshing the idea, I think anything that looks to improve our conditions has merit. Would be good to see how this thread goes and solutions and alternatives that come from it.