The Fair Work Commission’s minimum wage increase of $70.20 a week for full-time workers was 25 per cent higher than Treasury forecast in the May budget, while the rise in award wages was 40 per cent bigger than expected.
The wage rises will add a quarter percentage point to headline CPI inflation when passed through to consumer prices, according to Treasury briefings obtained by The Australian Financial Review under freedom of information.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
