Benefits of economic growth must be shared fairly with all Australians
04 June, 2010 | Media Release
The $26 a week increase to the minimum wage sends a strong message to business groups and the Liberal Party that the benefits of economic growth must be shared fairly.
With profits rising to record levels over the past decade, it is time for employees to be properly rewarded for their contribution to economic growth.
In its decision yesterday, Fair Work Australia specifically recognised the massive increase in company profits over the past 10 years at the expense of wages for working Australians.
The commission flatly rejected claims that a decent rise to the minimum wage will cost jobs.
ACTU Secretary Jeff Lawrence said the complaints by business groups and the Liberals over the minimum wage decision ignore economic reality.
“The fact is the Federal Government’s economic stimulus has already helped save 200,000 jobs and a further 450,000 jobs are set to be created over the next two years,” Mr Lawrence said.
“With profits bouncing back towards record levels, it’s time for employees to share in the recovery.
“Over recent years, Australian businesses have benefited from WorkChoices, while the low-paid have missed out time and time again.
“The productivity of employees has increased by up to 20% over the past decade, while the National Minimum Wage rose by just 2% during the same period.
“Working Australians fully deserve the $26 per week awarded by Fair Work Australia.
“The complaints of business lobby groups and the Liberal Party are predictable and self-interested, and they should stop their whingeing.
“They should be prepared to pay their employees fair wages, and to pay their fair share of tax as well.”
Contact Details
Mark Phillips
Ph: 0422 009 011
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