Philip Lowe’s Fantasy World Where Workers Could Get a Decent Pay Raise

The RBA Governor must be kidding himself if he really thinks Australian workers have a chance of getting a 5% pay rise.

Reserve Bank Governor Philip Lowe (Image: AAP/Lukas Coch)
Reserve Bank Governor Philip Lowe (Image: AAP/Lukas Coch)

On what planet does Reserve Bank Governor Philip Lowe live? Or, more accurately, what workplace is he in?

The governor, who spent most of the last five years urging big wage increases, has returned to the standard neoliberal grind and expects wages to rise no more than 4% to 5%, he told the American Chamber of Commerce yesterday. in Australia. Three and a half percent was his preferred result.

He wasn’t talking from an equity standpoint, or what households need to make ends meet, or how families can afford to do the basics on average income, let alone low wages. Simply from inflation: “Three and a half is the anchor point I want people to be aware of.”

Leave a Comment