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RBA: low wages growth the 'new normal' under Liberals



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JIM CHALMERS MP

SHADOW TREASURER

MEMBER FOR RANKIN

BRENDAN O’CONNOR MP

SHADOW MINISTER FOR EMPLOYMENT AND INDUSTRY

SHADOW MINISTER FOR SCIENCE

SHADOW MINISTER FOR SMALL AND FAMILY BUSINESS

MEMBER FOR GORTON

HON TONY BURKE MP

SHADOW MINISTER FOR INDUSTRIAL RELATIONS

SHADOW MINISTER FOR THE ARTS

MANAGER OF OPPOSITION BUSINESS

MEMBER FOR WATSON

RBA: LOW WAGES GROWTH THE ‘NEW NORMAL’ UNDER LIBERALS

Today the Reserve Bank has confirmed that weak wages growth under this Liberal

National Government is now the “new normal”.

In his speech today, RBA Deputy Governor Guy Debelle made the damning point

that there has been a step-change down in wages growth under the Liberals.

This underscores what so many Australians already know, that no matter how hard

they work they just can’t seem to get ahead.

Wages growth under the Liberals is the worst on record and has just slowed even

further.

This is what happens when you make low wages a “deliberate design feature” of

your policies.

Weak wages growth is the inevitable consequence of a third-term Government

without a plan for the economy.

Stagnant wages are a key reason why consumer confidence also hit a four year

low today.

Right when the economy needs a comprehensive plan to get the economy moving

again, all that Scott Morrison and Josh Frydenberg have is a political strategy but

no economic plan.

TUESDAY, 26 NOVEMBER 2019

MEDIA CONTACT: MEGAN LANE (CHALMERS) 0424 437 949

ERIN SMITH (O’CONNOR) 0458 950 010

ADAM GARTRELL (BURKE) 0427 008 525