RBA FIRES TURNBULL ANOTHER LOW WAGES GROWTH WARNING
09 Feb 2018
The Reserve Bank Governor, Dr Philip Lowe, has again warned about concerning low wage growth, as Turnbull and his Liberal's fail to improve the lot of Australian workers.
Reports last night have Dr Lowe warning a lift in wages is economically necessary saying, “Stronger growth in real wages would also boost household incomes and create a stronger sense of shared prosperity.”
This is the third time the Reserve Bank Governor has stressed the need for wages growth, yet Turnbull and his Liberals have no plan to take action that improves workers’ wages.
In fact, it has been reported today that the junior Workplace Relations Minister Craig Laundy is ignoring calls for a decent wage and is instead urging wage restraint – this is not surprising from the man that was the director of a number of companies that imposed unfair WorkChoices agreements.
Labor is concerned that the Turnbull Government is incapable of addressing consistently flat wages growth – and in fact they’re making things worse.
Malcolm Turnbull’s new Workplace Bargaining Policy, announced this week, continues to freeze public service wages growth at 2 per cent. It also seeks put an end to enterprise bargaining in the public service.
This backwards move comes as Labor warns that the decline of enterprise bargaining is contributing to wages growth at record low levels and rising inequality.
Workers continue to feel the pinch of stagnant wages growth and Malcolm Turnbull doesn’t have a single policy to grow wages and reduce inequality.
To the contrary, Turnbull and his conservatives support slashing the penalty rates of 700,000 workers; cutting their take-home pay.
They support employers unilaterally terminating enterprise agreements to cut workers’ pay.
They refuse to act to stamp out exploitation and underpayment of workers by dodgy labour hire companies.
And they have absolutely no agenda to tackle growing insecurity and casualisation in our labour market.
Australians deserve a pay rise but the government instead imposed tax increases to working and middle class families.