CynthiaSep 8, 2024
How trickle down economics actually works #trickledowneconomics #TaxTheRich #increaseminimumwage
Fusion Party AustraliaApr 27, 2024

The Fair Work Commission is currently considering a new minimum wage.

We are demanding a minimum 5% increase to help everyone keep up with the cost of living, especially our 2.9 million workers who will be directly affected by such an increase.

Critics might say that this raise is greedy, or that it could itself cause further inflation − we say that increasing the minimum wage is a bet that our citizens can live up to this higher wage.

By steadily increasing the minimum wage, we would ultimately love to see a #UniversalBasicIncome 🌈😌🪙

https://www.fusionparty.org.au/fair_inclusive_society

https://australiainstitute.org.au/post/increasing-minimum-wage-would-not-drive-inflation-up-new-report

#Wages #Inflation #IncreaseMinimumWage #Australia #UBI #FairWork #FairWorkCommission #Income #Auspol #Fusion #Australia

Fair + Inclusive Society

The health, wellbeing, and productivity of Australia as a whole is dependent on the quality of the lives of people in society. By investing in people - education, health, housing, and their security - the long-term prosperity of the country will be ensured. Social costs are often hidden, but solving problems of this type has broad positive consequences across the economy. By structuring policy and broader incentives, our government will reshape the justice, fairness, and sustainability outcomes of citizens, removing structural inequities to achieve better outcomes for all, and for Australia itself.

Fusion Party
Fusion Party AustraliaMar 25, 2024

The analysis, 'The Irrelevance of Minimum Wages to Future Inflation' by Centre for Future Work at the Australia Institute suggests that increases to minimum wage, and accompanying increases to award rates, would not have an effect on inflation.

The analysis exmaines correlation between minmum wage increases and inflation all the way back to 1997.

On the contrary to employer concerns, it finds that there is no consistent link between minimum wage increases and inflation in the modern Australian context.

To restore the real buying power of low-paid workers to pre-pandemic trends, but not significantly affect headline inflation, the report that finds a minimum wage increase between 5-10% in the Fair Work's Annual Wage review, due in June is needed.

It's long overdue for effective wage increases to help our citizens especially with the cost of living and housing crisises.

Fusion is all for wage increases and implementing a Universal Basic Income.

https://www.fusionparty.org.au/fair_inclusive_society

https://australiainstitute.org.au/post/increasing-minimum-wage-would-not-drive-inflation-up-new-report

#Analysis #Report #Wages #Inflation #IncreaseMinimumWage #Australia #UBI #FairWork #FairWorkCommission #Income #Auspol #Fusion

Fair + Inclusive Society

The health, wellbeing, and productivity of Australia as a whole is dependent on the quality of the lives of people in society. By investing in people - education, health, housing, and their security - the long-term prosperity of the country will be ensured. Social costs are often hidden, but solving problems of this type has broad positive consequences across the economy. By structuring policy and broader incentives, our government will reshape the justice, fairness, and sustainability outcomes of citizens, removing structural inequities to achieve better outcomes for all, and for Australia itself.

Fusion Party