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Assistant Treasurer Stephen Jones says he does not expect a wage price spiral if the minimum wage increases by 5.1 per cent.
He said the Labor government’s decision to back minimum wage increases was not done lightly as its priority is to lower inflationary pressures. “I don’t think it’s too much to say to Australian workers who have seen their wages go backwards over the last decade that as a bare minimum we don’t want to see you go backwards. I don’t think that’s too much to ask when the wages share of national income has gone backwards over the last decade. And I don’t think it’s too much for workers if they’re in the enterprise bargaining sector saying as a bare minimum, we want to keep pace with cost of living increases.