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

SBS Indonesian

Workers are demanding better wages and conditions. — Why has wages growth stagnated in Australia? Source: Source: Bianca De Marchi/AAP PHOTOS

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?

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Published 13 April 2022 11:02pm

Updated 14 April 2022 12:22pm

By sri dean

Presented by sri dean

Source: SBS

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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?

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.