NSW Labor is accusing the Berejiklian Government of failing to address the wages crisis as inflation remains higher than wages growth and households struggle to pay tolls, taxes and transport fares.
The latest Australian Bureau of Statistics data, released last week, shows the inflation rate is still higher at 2.2 percent compared to wages growth at a record low of 2.1 percent. Under Labor, wage growth was almost double at 3.9 percent in 2011.
NSW is also the highest taxing state- for the first time in a decade.
That means families will continue to be priced out of the housing market with the median house price in Sydney increasing to $1.17 million.
This week, a survey by ME Bank revealed households are pessimistic about their financial future for the third consecutive report due to ‘weak income gains, the potential for mortgage rate rises as well as the increased cost of necessities’. The cost of necessities- which includes energy, fuel and groceries among other items- was the biggest worry for 44 percent for Australian households.
Since July 1, the Berejiklian Government has increased costs on more than 750 services as well as Opal fares, almost every toll in Sydney as well as electricity prices.
Quotes attributable to Shadow Treasurer Ryan Park
“Families are being forced to tighten their belts time and time again as costs keep going up, yet this Government hasn’t done anything about increasing wages to help them.
“Tolls, taxes and transport fares take up a huge slice of the weekly paycheck then you add on the increasing energy costs- it’s no wonder families are feeling financially stressed.
“The Berejiklian Government’s rivers of gold keeps growing and growing because they keep taking more and more from taxpayers.”