and the cost of living rising sharply, businesses face demands for higher wages from their staff. Albanese has backed a 5.1 per cent pay rise in line with inflation for those on the minimum wage, but this is opposed by employer groups, and it remains to be seen how wages across the wider economy will respond to higher inflation.
But the shorter-term response many business leaders want is more migration - an issue that didn’t really feature in the campaign.Simon Schluter “To drive faster and more sustainable growth, we must be able to rapidly train and reskill people for new jobs as they emerge, foster higher participation rates and encourage greater numbers of women to not just work but pursue careers,” Comyn says.Closely related to skills is the question of wages, which are failing to keep up with high inflation, therefore sending “real” wages backwards.
In any case, market economists such as AMP Capital’s Dr Shane Oliver say a Labor government won’t make a significant difference to overall wages growth in the economy. Oliver says fewer than 200,000 workers receive the minimum wage, and like many economists, he didn’t change his forecasts for economic growth, inflation, wages or interest rates after the election result.
“So I think that having a very focused and definite framework for what climate action is going to look like in this country is absolutely crucial, and I’m hoping that that’s what the incoming government is actually going to prioritise.” AGL managing director Graeme Hunt says the utilities giant “shares the ambition for decisive action on climate, while ensuring affordable energy, and looks forward to working with the Albanese government to achieve this”.Among the financial sector, which is eyeing off a massive green investment boom, leaders are also keen for Albanese to lock in greater clarity on how Australia will achieve its “net zero” ambitions.
clancyyeates NickToscano1 domp Absolute hogswash Labor are just as in bed with big business as the Libs, they just won't give them unlimited public funds without sharing some of it with their workforces. Unlike the LNP who treated public coffers like a bottomless slush fund for themselves and big business
clancyyeates NickToscano1 domp Didn't hear this for 9 years, now it is a major priority? It has already started. 🙄
clancyyeates NickToscano1 domp Yes!!
clancyyeates NickToscano1 domp I predict after ALP wins: 1) open borders 2) high inflation (rising the wages ) 3) wave of bankruptcies (same reason) + green energy 4) religious persecution (just like Israel Folau) 5) high unemployment, high homelessness Se in 2 years if I'm right.
clancyyeates NickToscano1 domp Here's a thought, maybe business owners could take less money.
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