Business
Wages would grow without super guarantee hike: Treasury – The Sydney Morning Herald
Treasury secretary Steven Kennedy expects workers’ wages would rise in real terms over the next four years if looming increases in the superannuation guarantee…
Treasury expects wages to grow 1.25 per cent this financial year and 1.5 per cent in the next financial year but the consumer price index is expected to rise 3.5 per cent and 1.75 per cent in the same period. This in effect means wages will not keep pace with living costs.
In 2023 and 2024, wage growth and inflation are expected to rise at a similar rate, before wage growth overtakes inflation in 2025.
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