Minimum wage decision to cost business $8 billion a year

The Australian Chamber of Commerce and Industry has said the decision to lift the minimum wage by 5.2 per cent will cost business $8 billion a year, according to Sky News Political Editor Andrew Clennell.

“And they already have to cope with a 0.5 per cent rise in the superannuation guarantee from July,” he told Sky News Australia.

The decision by the Fair Work Commission to lift the minimum wage comes after the independent Commonwealth Remuneration Tribunal announced politicians would be receiving a pay rise of 2.75 per cent.

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