RBA hike means wage cap must go

Unions NSW

RBA hike means wage cap must go The Reserve Bank’s interest rate hike means Dominic Perrottet must scrap his discredited 2.5 per cent wage cap and allow wages to grow. Unions NSW Secretary, Mark Morey said: “Families across NSW have just had their finances deeply bruised. Dominic Perrottet needs to remove the handbrake on wages and allow pay to start rising to deal with this hit. “Today life just got significantly harder for nurses, paramedics, firefighters, teachers and all manner of public sector workers. The banks are about to take a big bite out of their take home pay and until the wage cap is lifted there’ll be little relief in the form of higher wages. “As the nation’s largest employer, the NSW Government’s miserable stinginess is also holding back workers in the private sector from getting a pay rise that keeps pace with the cost of living. “The wage cap must go now. The longer it stays in place the higher the risk of NSW losing key workers to other states where pyrites are easier to gain and the cost of housing is lower. “The Reserve Bank Governor has consistently said that the wage cap is holding back income growth. “When NSW workers pay their next monthly mortgage repayment they need to remember that Dominic Perrottet is denying them the wage increases they need to cope.” Mark Morey 0425 231 812

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