Morrison defends Budget’s wages growth unicorn

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By Leith van Onselen

Behold, once again, Scott Morrison’s Budget fantasy that Australian wages growth will miraculously boom over the next four years to levels not seen since the once-in-a-century mining investment and commodity price boom (forecast in green):

Last night, Scott Morrison defended the Budget’s wages unicorn in a speech given to the Australian Industry Group, claiming the company tax cut, the end of the mining boom, and increased infrastructure investment will send wages growth surging. From The AFR:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.