Wage growth - better-off joining the public service
The ABS announced that Australia's wage growth is just 2.3%, with private sector growth at 2.1% p.a. - the lowest in 18 years. Meanwhile, public service wage growth was 2.7%. Hmm, what's going on there?
But that is not the real problem. The problem is that Treasury Scott Morrison wants higher wage growth, as this yields higher taxes. Government revenue growth keeps declining. And expenditure keeps on increasing. Perhaps something upon which Napoleon Turnbull can focus when he gets over his jet lag.