Posts tagged "australian minimum wage"

The minimum wage should not rise any more than 3% as small businesses slog through a “cost of doing business crisis”, says the Council of Small Business Organisations Australia.

Small businesses could be forced to shutter if Australians on minimum and award wages receive a pay rise, the opposition has warned.

Tax cuts are not a substitute for much-needed wage boosts and Australia's lowest-paid workers cannot have their pay go backwards during a cost of living crisis, the Treasurer says.

Such a large increase in wages could fuel a wage-price spiral and secondly it could also increase unemployment.

The federal government has maintained its call for the national minimum wage to move in line with inflation, heralding the possibility of significant back-to-back increases flowing through to small business employers.

Any pay rise will create increased costs for employers, who will pass that onto consumers. This will increase inflation and the cycle will continue.

Anthony Albanese wants a 5.1% lift in the minimum wage — but how would that affect the economy?