GDP stats released today show that big business and employers are continuing to enjoy significant growth in their profit margins, while working people watch their wages go backwards.
Working people’s share of overall income has fallen 0.3% in the last year, and more than 2% over the last couple of years.
The Abbott/Turnbull/Morrison Government has served big business at every opportunity, at the expense of securing fair pay rises for working people.
Quotes attributable to ACTU Secretary Sally McManus:
“These figures expose the lie at the heart of broken ‘trickle down’ economics. Massive profits for the big end of town will never generate pay rises if working people don’t have the tools and rights to win them.
“The system is completely out of balance and is only working for the biggest businesses. We need to restore balance so that working people get their fair share.
“This is not normal – other developed countries don’t have our broken industrial laws, and working people are sharing in the profits they generate.
“Even the IMF now recognises workers are missing out on pay rises because of our broken industrial rules.
“We have to change the rules so that working people have the rights and tools they need to win pay rises.”