ACTU pushes for 5 per cent wage increase for 3 million Aussies
The Australian Council of Trade Unions will seek to raise the minimum wage for millions of workers to above $26 an hour and declare it “will not accept the lowest-paid workers in Australia going backwards because of the Reserve Bank and Donald Trump”.
This move comes as rapidly rising fuel prices triggered by the US-Israeli war against Iran and the RBA’s new cash rate hike put pressure on household budgets.
On Tuesday, ACTU secretary Sally McManus said working Australians needed pay rises to “keep ahead of inflation and so we can continue to catch up with inflation”.
“Last time inflation was on the rise, it was the workers who felt it the most; we cannot let this happen again,” he said.
“This is why low-paid workers need and deserve a decent pay rise. Energy companies, banks and supermarkets continue to make huge profits. Hard-working Australians should not be left behind.”
Ms McManus said the cash boost would benefit nearly three million working class Australians and contribute “about 0.6 per cent to the national wage bill”.
“That’s because we’re talking about pay increases for hospo and retail workers, disabled workers, healthcare workers and baristas, not for high-income earners who own a lot of investment properties,” he said.
“Of course, employer groups will say, as they do every year, that any wage increase will put pressure on inflation, and they are wrong every time.
“And let’s put this into perspective, our entire 5 per cent wage claim would cost less than BHP’s recent $8 billion half-year profit.
“What triggered inflation is the cost of price inflation by housing and oil companies. Wage increases for working people played no role.”
Ms McManus also highlighted the removal of negative gearing and capital gains tax relief to reduce housing inflation.
“We could put downward pressure on our energy prices by replacing the failed oil resource rent tax with a 25 percent tax on gas exports,” he said.
“This will also bring in more revenue by ending excessive windfall profiteering by major oil and gas companies.
“A tax like this could raise an estimated $17 billion last year, more than double the amount needed to fund the 5 per cent annual wage increase for low-paid Australian workers who need and deserve it.”
