Dear Sir/ Madam
I found a difficulty in understanding the highlighted phrase "would do so" in the following clips from a newspaper article
"Four months after a modest minimum wage was introduced, bringing us into line with most other places including the mainland, there is little if any evidence to support predictions that it would cause unemployment, or increase the rate of small business failures in a competitive economy. Nor is there any reason to think that adjustments of the minimum from time to time in line with relevant economic conditions would do so."
What does it mean? Can it be omitted?