The Albanese Government is backing another pay rise for minimum wage and award-reliant workers to help with the cost of living.
This is all about helping workers earn more and keep more of what they earn and helping Australians doing it tough.
Today the Government will lodge a submission to the Annual Wage Review recommending the Fair Work Commission award an economically sustainable real wage increase to Australia's award workers.
This will help around 2.7 million Australian minimum wage and award-reliant workers around the country.
National Minimum Wage and award-reliant workers make up around one quarter of Australia's workforce.
Many are in lower-paid roles, work fewer hours, and are hardest hit by cost of living pressures.
Since 2022, Labor's recommendations for real wage increases has seen a cumulative increase of more than $9000 for minimum wage workers.
The minimum wage is now $175.40 a week higher than when we came to office.
An economically sustainable real wage increase is consistent with underlying inflation returning to the Reserve Bank of Australia's (RBA) target band in 2026-27 and will provide further relief to lower income workers who are still doing it tough.
Conflict in the Middle East is compounding global economic uncertainty, and putting pressure on fuel prices, inflation and on family budgets.
The Government continues to roll out cost of living relief in a responsible way, while doing what we can to address inflation and unfair price rises.
The Government's submission does not recommend a specific wage increase, recognising the Fair Work Commission's independent role.
The Commission considers criteria, including economic conditions and the needs of the low paid, and takes submissions from a range of stakeholders.
All Australian workers will also benefit from another income tax cut this year and next year, in addition to the help we're rolling out like cheaper medicines and more bulk billion.
This is all part of our plan to help people with the cost of living, while remaining focussed on tackling inflation, boosting productivity and resilience, and navigating all this global economic uncertainty.
Quotes attributable to Minister for Employment and Workplace Relations Amanda Rishworth:
"Our Government believes the millions of baristas, care workers, clerks and cooks should get ahead.
"Low-paid workers are more exposed to unexpected financial shocks and they experience greater financial hardship, and we support lifting their wages.
"An increase to the minimum wage can also play a role in closing the gender pay gap given women are disproportionately represented in award-reliant jobs.
"Our government remains focused on getting wages moving and supporting higher living standards."
Quotes attributable to Treasurer Jim Chalmers:
"Workers are doing it tough right now and that's why we think they should get a sustainable real wage increase.
"With fuel prices going up and mounting pressure on families, we're helping with the cost of living in responsible ways.
"This will help millions of workers in low paid and award-reliant jobs deal with these rising costs, alongside all the support we're rolling out like tax cuts and cheaper medicines."
