Budget 2022: Can it enable growth in wages to keep pace with inflation?

On the evening of 29 March the Federal Government released Budget 2022. In the face of rapidly rising fuel prices and their impact, the Treasurer Josh Frydenberg announced a packet of policies to address the cost of living. However, there were mixed responses to the Budget. How well does Budget prepare Australia to face long-term economic and social issues?

Why has wages growth stagnated in Australia? Source: Source: Bianca De Marchi/AAP PHOTOS

Associate Professor Peter McCawley AM, is former Dean of the Asian Development Bank and Visiting Fellow in the Arndt-Corden Economics Division and the Indonesia Project at ANU.  He explains to Sri Dean why Budget 2022 tells us more about the political situation in Australia rather than economic conditions.

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