Amid a deepening cost‑of‑living crisis and renewed pressure from rising petrol prices and interest rates, the Australian Council of Trade Unions will push for a 5 per cent minimum wage increase covering nearly 3 million workers.
The ACTU will seek to lift the minimum wage by 5 per cent increase for almost 3 million workers.
That would lift the minimum wage to $26.19 an hour from $24.95 an hour and raise the full-time annual rate by $2465 to $51,761.
ACTU secretary Sally McManus said even before the Middle East conflict, rents and power prices continued to put pressure on workers’ household budgets.
Now working people have the added pressures of high petrol prices and a hike in interest rates.
‘Everyone knows the lowest paid workers in Australia are doing it tough because they have borne the brunt of cost-of-living increases as landlords put up rent and supermarkets and fuel companies pumped up prices,’ she said.
‘We will not accept the lowest-paid workers in Australia going backwards because of the Reserve Bank and Donald Trump.
‘Working Australians need pay rises that get them ahead of inflation so they can continue to catch up.
‘Workers were the ones who felt it the most last time inflation spiked; we cannot let this happen again.’
Ms McManus said while energy companies, the banks and the supermarkets continue to deliver mega-profits, hardworking Australians must not be left behind.
‘What has been driving inflation is the cost of housing and petrol companies’ price gouging,’ she said.
She also called for action to cut negative gearing and capital gains tax discounts for professional landlords to drive down housing inflation.
‘We could also put downward pressure on our power prices by putting in place a 25% levy on gas exports to replace the failed Petroleum Resource Rent Tax. This would also bring in more revenue, by ending the extreme windfall profiteering by major oil and gas companies.
‘A levy like this would have raised an estimated $17 billion last year – or more than twice the amount needed to fund a 5% annual wage boost for lower-paid Australian workers who need and deserve it.
