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Prime Minister Anthony Albanese has told parliament that the federal government has a plan to get “wages moving again”. He says that in contrast, low wages were a deliberate design feature of the economy under the former Coalition government.
Treasurer Jim Chalmers also expects real wages growth over the term of the current parliament; although he cautions that wages growth will not keep pace with inflation in the near-term.
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.
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