Unions have welcomed the minimum wage increase, saying it will 'make a significant difference' to low paid workers but industry groups have labelled the rise 'a very significant risk' to the economy.
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But Ms McManus said it was disappointing the increases were delayed until October for those working in hospitality, aviation and tourism sectors. The Australian Chamber of Commerce and Industry CEO Andrew McKellar described the 5.2 per cent lift as a"very significant risk" to the economy, arguing businesses will have to bear a"very significant burden".
"It comes at a time when inflation is emerging as one of the most urgent challenges facing the Australian economy and if we are to address that, if we are to remain competitive, then, clearly, this is not a decision that will help in those circumstances." "That's halfway through this pay increase. We're always mindful of that problem which is why we were asking for a 5.5 per cent increase and we thought that was very reasonable," Ms McManus said.
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