BUDGET 2024 🗞️ Working people win higher wages and cost-of-living relief in Budget 2024

Audio clip from Treasure Minister Jim Chalmers ⬆️

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The ACTU said tonight that the Labour Government's 2024 Budget is good for working people, with wages expected to rise, care economy pay increases, cost-of-living support on top of the July 1 tax cuts, and a historic commitment to jobs, including manufacturing jobs in Australia.

The Budget papers confirm that wage growth will be 4 percent for this financial year, nearly double the average rate of 2.2 percent under the decade of the Coalition Government.

The ACTU welcomes the commitment by the government to supporting wage increases in the aged care and early learning sectors, and the payment of superannuation on paid parental leave.

The government’s decisions and commitments will drive decent wages and continue the momentum to correct the wage stagnation caused by the previous Coalition Government.

ACTU President Michele O’Neil said “This budget can be summed up in two words: higher wages. The Labor Government was elected on a platform of getting wages moving, and after 10 years of wage stagnation under the Coalition, we are seeing a turnaround.

“Real wages will go up in the next year the same amount as they went up in total over the 10 years of the Coalition Government.

“The commitment to supporting pay rises in aged care and early childhood education will support the workers in these critical industries, who are primarily women.

“The union movement also strongly supports the historic commitment to the Future Made in Australia package.

“This announcement puts Australia back on the path to a stronger, more resilient, and more diverse economic base, and turbocharging the investment necessary to build the jobs of the future in a clean economy.

“After a decade of inaction and denial under the last government, we now have a government prepared to invest in a fast and fair energy transition to create secure jobs in the new industries that Australia needs, and the skills to support it.”

The ACTU strongly supports the cost-of-living announcements, including the $300 energy bill relief payment to every household, and an additional 10 percent increase in Commonwealth Rent Assistance.

The union movement also welcomes the historic Future Made in Australia plan, which is set to create secure manufacturing jobs and develop new industries as part of the government’s objective of turning Australia into a clean energy superpower.

The investment in skills is also an important part of strengthening the national economy, and the ACTU welcomes the key announcements of:

· 20,000 new fee-free TAFE and VET places in construction.

· Support for the workers of the future with the introduction of paid placements for Australians studying to be nurses, teachers, and social workers.

· Skilling the Clean Energy and Construction Workforce.

· Additional support for apprentices and trainees.

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The Australian Workers’ Union has tonight strongly endorsed the Albanese Government’s second budget, which the union has characterised as relief for Australian workers today and an exciting future for Australian workers tomorrow. 

“This forward-looking and compassionate Labor budget is a breath of fresh air compared to the sloppy, wasteful, and myopic budgets handed down by the previous government,” said AWU National Secretary Paul Farrow. 

“This is clearly a budget that has the interests of everyday working people as its main focus. Cost-of-living relief today and strong investment in generational industry development tomorrow both constitute significant wins for Australian workers.

“Australia has the resources and workforce to be a world leader in hydrogen, critical minerals and green metals, but we won’t get there without the government, working with industry to build scale and ensure we aren’t left behind. That’s exactly what the government is doing with the Future Made in Australia program and it’s incredibly refreshing. 

“Of course a successful Future Made in Australia must be one that provides safe, secure, well-paid jobs, and the AWU will be working with the Albanese Government to ensure strong labour standards are a condition for all investment under the program.

“This budget lays bare the differences between the Albanese Government and the Dutton Coalition. Where the government delivers compassion, vision, and ambition for Australian workers, the Coalition promises only a vacuum of negativity and a capitulation to the very worst instincts of vested corporate interests. 

“It is the Labor Party’s role to invest in the nation building projects that make Australia great. It is never an easy road politically, but the Albanese Government is certainly not shirking its historic responsibility with this budget.”The Construction, Forestry, Maritime Employees Union (CFMEU) has backed federal budget measures to help more apprentices and women forge careers in construction.

Building and construction apprentices will have access to $5000 to help them complete training, while employers will be eligible for the same amount to subsidise costs.

The Building Women’s Careers program will spend $55.6 million over four years to provide flexible, safe and inclusive jobs for women in industries including construction.

CFMEU National Secretary Zach Smith:

“Apprentice tradies are in a world of pain thanks to the cost-of-living crisis, so this extra help will mean fewer drop out because of the financial squeeze,” he said.

“Getting apprentice completion rates up is absolutely critical to solving some of our nation's biggest challenges like the housing crisis and energy transition.

“While the CFMEU is at the forefront of helping more women find well-paid jobs in construction, a government scheme that assists our work is a really important step.

“We’re acutely aware of the barriers some women seeking careers in construction face around things like finding flexibility to balance work and care responsibilities.

“Australia needs more women and young people in well-paid construction careers that help our nation build those major projects like housing, road and rail, renewables and manufacturing.”

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