CBA kicks off national wages demolition

Wednesday, 16 September 2020

Mortgage forbearance doesn’t come cheap. Via Banking Day:

The prospects of real wage growth for thousands of workers in the financial services sector are waning after Commonwealth Bank stumped up a low-ball pay offer in its current round of enterprise bargaining talks.

The Finance Sector Union has rejected the bank’s offer which provides for rises of between 1.5 per cent and 2 per cent in 2020 and 2021.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.