May 18th 2024.
Business groups are making a strong demand to the government to limit the minimum wage increase to only two per cent. Their reasoning behind this is to prevent inflation from rising and to avoid worsening the unemployment rate. According to them, smaller businesses are struggling to survive and have been neglected in the government's latest budget.
The chief executive of the Australian Chamber of Commerce and Industry, Andrew McKellar, expressed concerns about the increasing burden of red tape and input costs on small businesses. He believes that they cannot afford to pay higher wages, which would only add to their financial strain. This sentiment is shared by Yasmin Coe, the owner of Sweet Pea & Poppy Chocolate, a small artisan treat shop in Murrumbateman. Coe mentioned that their costs have risen by 30 per cent due to higher energy and transport bills, as well as issues with the global cocoa supply chain.
The budget for this year does include some measures to support small businesses, such as power bill rebates and an extension to the instant asset write-off. However, Luke Achterstraat, the chief executive of the Council of Small Business Organisations Australia, believes that small businesses were not given enough attention in the budget. On the other hand, Michele O'Neil, President of the Australian Council of Trade Unions, strongly criticized any suggestion of capping the minimum wage. She believes that it is unfair and insulting to the low-paid workers in Australia.
In response to these criticisms, Treasurer Jim Chalmers defended the budget's contribution to supporting small businesses while speaking in Queensland. He emphasized that the government is aware of the struggles faced by people and has taken measures to provide relief. He also clarified that the cost of living relief is not meant to replace decent pay for working people.
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