Business
Pressure on for early tax cuts as wages slump and confidence tumbles – Sydney Morning Herald
The slowest wages growth on record and falling consumer confidence is prompting calls for the federal government to fast-track planned tax cuts.
Wages in Victoria fell by 0.1 per cent, the first time any state or territory has ever recorded a negative quarter, and the wage data covered the period before the introduction of stage three lockdowns across parts of Melbourne. Wages in NSW were flat.
The bureau said of those wages that were cut, mostly for higher income earners and managers, the average reduction was more than 13 per cent.
The national wage price index increased by 0.2 per cent in the quarter to be 1.8 per cent up over the p…
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