The Albanese government has announced its intention to advocate for an increase in the minimum wage that aligns with the current inflation rate, marking the third consecutive year of such efforts. This move comes amidst concerns from the Reserve Bank of Australia about inflationary pressures, highlighted by recent unexpected employment figures. The government's stance is to ensure that wage rises for low-paid workers, including those on minimum and award wages, keep pace with inflation, which is forecasted to drop to 3.3% by June. This policy is set against the backdrop of the Fair Work Commission's ongoing deliberations on wage adjustments, where the government has explicitly opposed the use of upcoming stage 3 tax relief as a justification for limiting wage increases. Meanwhile, national employer groups, notably the Australian Chamber of Commerce and Industry, have proposed capping this year's minimum wage increase at 2%, a figure below the anticipated inflation rate, arguing that a higher increase could result in a real wage cut and undermine business competitiveness.
Australia's government will support a minimum wage increase in line with inflation this year as low-income families continue to grapple with costs of living, although the rise would be smaller as inflation eased https://t.co/LKlRHQSUud
Australia's government will support a minimum wage increase in line with inflation this year as low-income families continue to grapple with costs of living, although the rise would be smaller as inflation eased. More here: https://t.co/9UDxXP6ygE
National employer body, the Australian Chamber of Commerce and Industry, wants this year's minimum wage increase capped at 2 per cent. If granted, a 2 per cent rise would be below the inflation rate and represent a real wage cut for the lowest-paid. https://t.co/DoC13bRsJI https://t.co/L79bxw1H6n
The federal government has urged Australia’s wage umpire not to use incoming tax relief as an excuse to halt lifting wages. https://t.co/Ha2XH2WTSd
The Albanese government will back an increase to the minimum wage for the third straight year on top of tax cuts as business lobby groups sound the alarm of a decrease in competitiveness. https://t.co/uTVxpStiCw
The federal government is pushing to raise the minimum wage in line with inflation for a third straight year. https://t.co/CyTNkW1b1J
The government will argue for an increase to the minimum wage that's in line with inflation. #9News https://t.co/MsuEjnZj4M
Gov to push for rise in the minimum wage floor Good https://t.co/4ho2hOCJMq
Federal Government to tell Fair Work that minimum and award wages for low-paid workers should rise in line with inflation. Inflation rate forecast to drop to 3.3% in June. Rejects employer bid to offset stage 3 tax cuts against wage rise. @australian https://t.co/9RopPxweHC
Australia politics live: government asks Fair Work Commission to keep wage rises in line with inflation https://t.co/swEQDFwMBl
Just as the Reserve Bank of Australia thought inflation was finally coming to heel, blowout employment figures delivered a nasty shock. This, and more business stories to watch for over the coming week https://t.co/hUNK6Z96R3