The Fair Work Commission has approved a 2.6 per cent increase in the minimum wage.
The decision will deliver a rise of $15.80 per week to Australia's lowest paid workers.
The increase affects 1.5 million people, and will take their weekly wage to $622.20.
Justice Iain Ross told the hearing factors including an expected increase in the unemployment rate led to the commission's decision.
"In addition to these considerations, the superannuation guarantee increase to apply from 1 July this year has also been a moderating factor in our assessment of the adjustment that should be made to minimum wages."
Australian Chamber of Commerce and Industry chief executive Peter Anderson says the minimum wage rise is a body blow for the small end of town.
"That is $1.5 billion of increased wages that have to be funded by Australia’s small and medium business community," he said. (Emphasis added)
New MPs will also get a better superannuation deal under big changes to parliamentary salaries and allowances. The bipartisan legislation proposes increasing backbenchers' wages by eight per cent and a 15 per cent increase for shadow ministers and the Opposition leader. Ministers and the Premier would get a 2.5 per cent pay rise. The budget for the Opposition leader would also increase by $500,000 a year, to $2 million. Superannuation for MPs who enter the Parliament after 2004 would increase from nine per cent to 15 per cent, in line with federal arrangements. In exchange for the changes, MPs would lose some allowances, including free parking at the airport and free interstate rail travel. The base salary for a state MP is $137,000
Originally posted by charles1952
Ok, I'm getting the impression that the current government is not, shall we say, highly regarded? The move does seem to go against economic common sense pace the poster who believes that the economy will be helped by taking money from one end of the pool and putting it in the other end.
Is this opinion of the government fairly widespread? Is there an alternative to Julia (Gillard, I think her name is), or is this a case of "You've asked for it, now live with it?" And how soon (more Yank ignorance) will she face the voters?