Economic Impact

Economic Impact

• Economy still growing but at a lesser rate
• Forecast wage increases, due to full employment, will surely lead to increased costs of business, ultimately passed on to the person in the street. An economic vicious circle that must ultimately mean higher inflation
• Indexing benefits to the average wage increases, which will give $10-$17 per week above the current CPI increase by 01 April 2023 at a cost of $320m over four years as recommended by the Welfare Expert Advisory Group report