Under the Abbott-Turnbull-Morrison government company profits continue to grow, and yet wages are stagnating as Australians struggle to keep up with living costs.
According to the latest Australian Bureau of Statistics (ABS) business indicators data, company profits are growing at a rate of nearly six times that of wages.
Company profits rose 1.9 per cent in the September quarter to be up 13.5 per cent over the year. This compares with the Wage Price Index which shows wages growth at around record lows of 2.3 per cent for the year.
As Treasurer and now Prime Minister, Scott Morrison has presided over the lowest wages growth since records began, and yet he wants to further cut the wages of hard working Australians by getting rid of their penalty rates.
This Government doesn’t have a single policy to grow wages and reduce inequality.
Australians deserve a pay rise – and they aren’t getting one under Scott Morrison and his Liberals.