[ad_1]
The terrible budget projections about workers’ wages have prompted the government to question time.
The Federal Labor Party warned that Australians who persisted in working during the COVID-19 pandemic will now be cut in real wages.
The opposition attack occurred less than 24 hours after Treasury Secretary Josh Frydenberg issued the federal budget.
The Morrison government’s huge spending agenda is not enough to distract the opposition, preventing them from attacking them on wage growth figures within the time of questioning.
This is because the budget predicts that inflation will exceed wage growth, leading to a decline in real wages.
It is estimated that by the middle of this year, the inflation rate will reach 3.5%, while wages will only increase by 1.25%.
“What is the point of an eight-year-old government accumulating $1 trillion in Liberal Party debt when workers’ wages can’t keep up with their bills?” Opposition Treasury Department spokesperson Jim Chalmers (Jim Chalmers) Say.
“Workers who were lucky enough to survive the pandemic will now have their real wages cut.”
But Treasury Secretary Josh Frydenberg (Josh Frydenberg) said that the best way to raise wages is to lower the unemployment rate.
Freidenberg said: “The Treasury Department pointed out in its budget document last night that by the end of next year, the unemployment rate will fall below 5%.”
“The key to raising wages is the tightening of the labor market.”
He said that the actual wage figures take inflation into account, and after the government took emergency measures against COVID-19 (such as free child care services), inflation has entered a negative range.
Friedenberg said: “We have seen that the inflation rate is not high, so real wages are at the 10-year average.”
He said the government’s additional investment in skills, tax relief and infrastructure will help promote more Australian employment.
Mr. Freidenberg said in his budget speech: “By the end of 2022-23, this budget will help create more than 250,000 jobs.”
Deputy Prime Minister Michael McCormack has also been questioned over the government’s $10 billion in infrastructure investment. Opposition infrastructure spokesperson Catherine King said that budget documents show that there will be 33 cuts in the next four years. One hundred million U.S. dollars.
McCormack said: “The only haircut I saw this week was the hair I cut the day before.”
[ad_2]
Source link
