TURNBULL'S SUPPORT FOR CUTS TO PENALTY RATES WILL HIT BRADDON HARD
18 May 2017
7585 workers in Braddon are set to lose $9.9 million per year when penalty rates are cut - a devastating hit to local workers and the local economy.
Federal Member for Braddon Justine Keay said the community is set to lose at least $9.2 million as businesses that are not locally owned take money out of the local economy.
“Taking any income out of the region will hit Braddon hard and it’s time Prime Minister Malcolm Turnbull abandoned his support for these cuts,” Ms Keay said.
“Sadly Braddon won’t be alone in feeling the brunt of these cuts, with the latest data showing that 45 regional communities will be devastated as a result.”
Research from the McKell Institute confirms what Labor has long been arguing – that cutting the wages of workers in regional communities will rip money out of those economies, with workers losing up to a staggering $667 million each year and $289 million each year lost to those regions entirely.
“The recent McKell report highlights that there are 2009 workers in the retail industry in Braddon, who stand to lose $6,578,853 in disposable income per year alone,” Ms Keay said
“Further, the report makes clear that slashing the income of workers will have a negative impact on job creation because it will reduce the amount of disposable income available to spend in local businesses.”
Ms Keay said the Government had claimed it had listened when it handed down its Budget last week.
“And yet 700,000 Australians who desperately can’t afford it are facing a wage cut,” Ms Keay said.
“From 1 July people in Braddon will be seeing less in their pay and yet the Coalition has done nothing to stop this harmful blow to low income workers.
“The Government has supported these cuts from the start and this is despite Labor’s legislation to protect penalty rates and the take home pay of workers.
“The Coalition continues to push for a $65 billion tax cut to big business while continuing to support a pay cut for low paid workers, it is simply unfair.”