The Stage 3 tax cuts will only balance out the tax increase from the end of the low-middle income tax offset for those earning above $97,000

The end of the Low-Middle Income Tax Offset will deliver a tax increase of up to $1,500 for people earning under $90,000 – a 3% tax rise for someone on $50,000

Taxation data shows which occupations will get the biggest cuts – and how few people work in them

If you wanted to address bracket creep, the Stage 3 tax cuts would be the worst way to do it.

Enterprise agreements in June averaged just 2.8% annual wage growth – well below inflation.

This week the UK government introduced massive high-income tax cuts – cuts that are not even as bad as the Stage 3 tax cuts here in Australia. And the reaction by the market was brutal. Investors saw the tax cuts for what they were – a redistribution of national income from the poorest to the wealthiest, that provided no economic growth. As a result the value of the UK Pound plunged.

Enterprise bargaining agreements deliver better wages, but union backed ones deliver the best.

Last week before the House Economics Committee, the Governor of the Reserve Bank made it clear that the current rise in inflation has nothing to do with wages growth. And yet he also made it clear he expects workers to bear the brunt of the cost that comes from slowing inflation.

Since the Reserve Bank began raising interest rates in May, the housing market has very much come off the boil.

The past 2 years has seen a surge in the number of people working multiple jobs

Ten years of productivity gains has resulted in a zero increase in real hourly wages

The June quarter GDP figures released by the Bureau of Statistics showed that over the past year the economy grew a seemingly strong 3.6%.

The latest GDP figures show more than ever before workers are getting less than their fair share

Profits continue to soar ahead of wages

The Stage 3 tax cuts, which will essentially create a flat income tax system, have always been clearly biased towards high-income earners. For those earning over $200,000, the tax cuts represent a 4.5% cut compared to just 0.6% for someone on the median income of $60,000. But this week, the Parliamentary Budget Office has released costings that detail just how skewed the allocation of money is to the richest in our society.

77% of the benefits of the Stage 3 tax cuts will go to the richest 25%

When you count earnings per waged hours it is very clear that real wages have not kept up with productivity

For most of the past 40 years whenever the discussion turns to the need to lift productivity, invariably the conversation is dominated by business groups and various media commentators who suggest the solution is more labour market flexibility. Just a bit more flexibility and productivity will improve!

Average annual earnings growth slowed over the past 6 months while real average earnings plummeted

Underutilisation is at 40 year lows; wages are not even at 10 year highs

The latest wages price index figures from the Bureau of Statistics reveal just how far workers ability to purchase items with what they earn has fallen.

In the past year real wages fell so far they are now back to 2012 levels.

The lack of workers is the major reason for the flight delays and airport wait-times. People are back travelling, but the air travel workers are not.

The 2019-20 taxation statistics released this week by the ATO provide a plethora of data that reveals with precision the salaries of people by location, occupation age and importantly, gender.

The latest raise in the cash rate has meant interest rates have increased by more in 4 months than they have anytime since 1994.

The latest inflation figures from the Bureau of Statistics reveal just how much workers have been left behind. Writing in Guardian Australia, labour market and fiscal policy director Greg Jericho notes that while the focus is on the biggest annual increase in inflation since the introduction of the GST, the data also shows that real wages have fallen drastically.

Despite unemployment at nearly 50 years lows, it will be little surprise to workers that wages growth is only at 3 year highs. Over the past decade the relationship between wages growth and unemployment has shifted such that levels of unemployment that would have once seen wages growing at more than 4% are now associated with growth of well below 3%.

Right now, the big numbers of the economy look pretty good. Unemployment in June was just 3.5% – the lowest since 1974. So why has consumer confidence crashed and why are so many Australians worried about a recession?

The Fair Work Commission has announced an important increase in the national minimum wage, which will rise by $1.05 per hour (or 5.2%) effective 1 July 2022. This represents a significant shift in the debate over wages in Australia, whichi have been languishing for years — and are now falling in real terms.