The Reserve Bank of Australia (RBA) increased interest rates supposedly to combat inflation and bring it back down.
So they have increased it by 0.75% this year.
Today Fairwork announced 4.75% Wage increases to Australia's low paid workers, as if they were the only ones affected by egregious money grubbing politicians.
It not only the low paid workers.
Blind Freddy knows this will permeate the whole economy.
.
Every home owner in the country has been stripped of their money, after being blamed for inflation that was driven solely by government spending.
And everyone else has become little more than a piggy bank for the states
Only stopping government spending will stop inflation, and hopefully restore some common sense back into our country's politicians
We know the Canberra lunatics don't know anything about economies, but their advisors need to go back to primary school.
As for Fairwork, it's the retirement village for failed solicitors with connections. They do as they are told.
@tenpercent:
because we have a 'stupid' system - thus is why Australia is going backwards
for the record min wages going down is just 'one part' of the problem in Australia
high taxation, pointless regulation, bracket creep are all issues too - and yes hording of wealth is another issue
remove income tax or have a 'very low flat rate' ie 10% and get rid of capital gains taxation - introduce a death tax of 50% on all assests