7th Dec 2020, 3:47 PM – Senate Motions - Economy - Wage growth

The majority voted against a motion introduced at the request of ACT Senator Katy Gallagher (Labor), which means it failed.

Motion text

That the Senate notes that—

(a) quarterly and annual wages growth are both now at the lowest level in the history of the Australian Bureau of Statistics (ABS) Wage Price Index;

(b) the ABS's Wage Price Index rose 0.1% in September quarter 2020 and rose 1.4% through the year to the September quarter 2020;

(c) ABS Wage Price Index data has shown that through the year wages growth has been below 3% since 2014;

(d) the Reserve Bank of Australia stated on Tuesday, 1 December 2020 that 'The extended period of high unemployment and excess capacity is expected to result in subdued increases in wages and prices over coming years';

(e) the September Quarter National Accounts showed that the wages share of income fell to record lows at 49%;

(f) wage growth forecasts have had to be downgraded in successive Budgets since 2014; and

(g) the Morrison Government has prioritised spending $15 million to promote its economic 'comeback' campaign at a time when millions of Australians are being left behind.