01/06/2018 - 13:52

Minimum wage lifted 3.5%

01/06/2018 - 13:52

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The Fair Work Commission has delivered a 3.5 per cent increase to the minimum wage as part of its annual review.

The commission said there are about 2.3 million people who have their pay set by an award.

The Fair Work Commission has delivered a 3.5 per cent increase to the minimum wage as part of its annual review.

The decision results in a rise in the minimum wage to $720, an increase of about $24 a week.

The commission said there were about 2.3 million people who had their pay set by an award.

There will also be a rise of $28.30 per week in the base trade rate, along with a $47 a week increase in the award rate for professionals.

Australian Industry Group chief executive Innes Willox said the rise had the potential to be a disincentive to employment.

“It is out of step with wage movements across the economy, with inflation, and with the pressures that many businesses are under," he said.

"Australia already had the second highest national minimum wage in the world (just behind France) and today's decision runs the risk of further harming the competitiveness of Australian businesses.

"While the FWC describes the 3.5 per cent increase it has awarded as 'modest', it is well above inflation and it is not supported by improved productivity.”

AI Group had been calling for rise of 1.8 per cent.

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