Election 2022 (Poll added)

[DJC]

DJ,  I'll go with the man who sets the cash rate and thats Philip Lowe,inflation tipped at 6% by years end and he expects wages growth to lag prices for a while yet, his expectation is around 3% wages growth.
Albo has promised 5% wages increases , he will need a magical framework to make that happen in the next 12 months Imho, gentleman Jim Chalmers also will need to help him by keeping the fuel excise cut and from what I read he didnt want to commit to that...Albo might get some help if the Russia/Ukraine conflict is resolved and China can get out of lockdown and Penny Wong can smooth the waters but with less stimulus in the market I dont see consumption increasing with interest rates going up and GDP being affected. A lot of moving parts to sync up for decent wages growth IMO and if Albo/Chalmers pull it off then they might have the job for a while....

Albo's commitment is that Labor would support a 5.1% pay rise for the 2% of Australians earning the minimum wage of $20.33 an hour if the Fair Work Commission determined that such a pay rise was appropriate.

There's a good discussion of why/how pay rises aren't inflationary here:

https://www.abc.net.au/news/2022-05-13/m.../101060028

Basically, there's a lot of fat in the system that could be redistributed.