In this submission, Ai Group addresses several post-Budget economic matters and we advance a proposed quantum for increasing minimum wages.

Since we filed our Reply Submission, updated Australian economic data regarding retail turnover, household spending, and total wages has been published; as well as new national economic forecasts by the RBA in its ‘Statement of Monetary Policy’ and the Treasury in the Budget.

This newly available data supports arguments previously made by Ai Group; that the Panel should take a cautious, responsible and balanced approach in the 2023 AWR. The determination of an appropriate increase must be moderated by sustained cost pressures felt by employers, anaemic profitability and productivity growth across a raft of industries, as well as the increasingly sober forecasts of low levels of economic growth and impending headwinds.