Federal election dwell: All of the updates from the marketing campaign

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Chamber of Commerce boss backs 3% wage rise, says it isn’t akin to a pay cutAustralian Chamber of Commerce and Trade CEO Andrew McKellar mentioned including an excessive amount of value to companies after a “robust interval over the previous two years” dangers fuelling increased costs.Mr McKellar mentioned extra inflation would put strain on the Reserve Financial institution to maintain pushing rates of interest up.”We do not need to see wages chasing costs, costs chasing wages, inflation going up and rates of interest getting increased,” he mentioned.Mr McKellar denied a 3 per cent wage rise – the determine the Chamber has backed – is akin to a pay lower.Earlier Labor’s Tony Burke mentioned with inflation at 5.1 per cent, something beneath can be a pay lower.”You must take a look at the total image,” Mr McKellar mentioned, explaining that there are different measures coming into place to assist ease cost-of-living pressures.”There are tax reductions, tax offsets within the pipeline from June 30,” he mentioned.”There will probably be an enhance within the superannuation assure, in order that’s an additional 0.5 per cent enhance in superannuation contributions, which employers have bought to make… once more including into prices.”So I believe that you have to take a look at the total image and that is what we’ll be urging the fee to do.”

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