The RBA’s increase to the cash rate by 0.25 per cent to 35 basis points has spelled out bad news to workers already battling Morrison’s cost of living crisis.
ACTU Secretary Sally McManus expressed grave concern about the increased pressure on working Australians with wages falling behind rising costs of living.
“House prices have increased 6 times faster than wages under this term of the Morrison Government,” she said.
“If Scott Morrison hadn’t been completely missing in action on wages, Australian workers paying off a mortgage would have been better prepared for today’s interest rate rise.”
The RBA announcement comes only a day after the ACTU released a report highlighting Morrison’s deliberate decisions that have led to the crisis in Australian wages.
Scott Morrison has chosen not to support a pay rise for a quarter of Australian workers through the Annual Wage Review, while also refusing to support the wage case being run by aged care workers or do the work to address the insecure work crisis.
These are practical steps that the Federal Government could take to generate wage growth and help end the cost-of-living crisis.
Australians deserve better than a Prime Minister who doesn’t seem to care that their real wages are going backwards. Working people are doing it tough and they need a leader who will have a go at addressing the cost-of-living crisis that is sending our living standards backwards
Sally McManus
ACTU Secretary
Australian workers cannot keep waiting for the Morrison Government to stand up for their interests and ensure they can afford a decent living.
It’s your choice how you vote this election, but we need to fix stagnating wages and the cost-of-living crisis. Australia can do so much better than Scott Morrison and his Government.
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Housing affordability even further out of reach for workers