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Calls for Aussies to take a pay cut to help struggling businesses

Industry groups claim Australia has the highest minimum wage in the world which could put economic recovery at risk.

The Fair Work Commission raised the minimum wage 1.75 per cent in June to $19.84 an hour or $753 a week.

Australian Industry Group CEO Innes Willox told Ben Fordham the high rates make it difficult for businesses to employ people.

“It’s a big cost for businesses at a time where they’re looking to find ways to recover.

“Only 2 per cent of the workforce gets the minimum wage and everyone else gets more than that.

“About 40 per cent of workers are impacted by the minimum wage… because that then directly flows into their pay packets.”

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Image: Getty