OPINION: Business is being outmanoeuvred by unions and risks the government imposing an agenda closer to the desires of the ACTU at next week’s Jobs and Skills Summit.
Executives should be alarmed by the drumbeat of highly co-ordinated daily media campaigns by unions about the “unfair” workplace relations system, “weak” wages share and job “insecurity” that is being plastered over newspaper front pages and being broadcast on television and radio.
Corporate Australia, in the middle of profit reporting season, has been caught flatfooted and the Labor government has been indulging the union campaign. Four decades on, at least three union-linked industry superannuation fund leaders – who in effect exist due to the Accord – have been invited to the summit next Thursday and Friday.from the invite list. Banks are among the country’s biggest employers, taxpayers and economic intermediaries.
The main reason for the profit-wage gap, as the Reserve Bank of Australia has shown, is that mining profits have soared.Stripping out mining, the share of profits and wages have broadly moved in line in the past decade.
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