Australia: Government to support minimum wage increase in line with inflation | World Business Watch

In Australia, the cost of living crisis has made the government take an important step to support low-income families. The Australian government will support a minimum wage increase in line with inflation this year. This comes at a time when low-income families continue to grapple with the rising cost of living.

#australia #economiccrisis #businessnews

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[hurrdurrmurrgurr]

The cost of living crisis is caused by immigration numbers higher than new homes being built, corporations allowed to buy properties and individuals allowed to buy multiple investment properties they then rent out or put on airbnb. The government can fix all these problems by cutting immigration below new home constructions and charging increasing taxes for each property an individual or corporation owns.
The second cause are monopolised markets like groceries where there are only three options in most regions. They're able to demand farmers sell for just above cost and then they charge through the nose in stores. They use inflation as a scapegoat while reporting record profits. Government needs to start trust busting these monopolies. Increasing the minimum wage is a band aid fix which makes people temporarily happy before the monopolies raise prices again under the claim of increased cost of doing business. Meanwhile small stores who were already struggling will go bankrupt giving the monopolies even greater market share.

[mohsinwalaofficial]

From Pakistan: its a good step that Government is doing best for low class.