The Fair Work Commission announced the minimum wage should be increased by 5.2 percent, similar to what the Federal government recommended in their submission. Unions welcome the decision, business councils are concerned on the impact it will have on businesses.
On Friday, the ALP submitted to the Fair Work Commission that the minimum wage should be increased by 5.1%. This increase will include shop assistants, cleaners and workers. There are many concerns about what raising the minimum wage would do to Australia’s economy.Ex Prime Minister, Scott Morrison, said it would be throwing fuel on the fire of rising interest rates, rising cost of living and force small business out of business altogether.The Wire looks at what this increase will do to Australia's economy and it's impact on low paid workers.