Spare us the talk about a wages explosion. There's nothing wrong with lifting Australia's lowest wages in line with inflationWhen, in the final days of the 2022 election campaign, the then-opposition leader Anthony Albanese backed an increase in award wages to"He just runs off at the mouth, it's like he just unzips his head and lets everything fall on the table," Morrison said.
Last year the Commission awarded low-paid workers 5.75 per cent. In the year that followed, overall wages climbed 4.1 per cent. The previous year the Commission awarded 5.2 per cent. In the year that followed, overall wages climbed 3.7 per cent. Australia's total wage bill has been climbing much more slowly than prices. In part this is because decisions on awards, like the ones handed down this week, apply only to awards.It is true, as several senators said on Monday, that inflation in the price of services is now greater than inflation in the price of goods. But Treasury Secretary Kennedy doesn't think that's because of excessive wage growth.
As unthreatening as the latest 3.75 per cent increase in award wages is to inflation, it'll be welcome to those who receive it.released on Wednesday are likely to show living standards as measured by GDP per person have gone backwards for four consecutive quarters, the first time that's happened in 40 years. The extra pay will help.
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Source: 7NewsSydney - 🏆 16. / 63 Read more »