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To: ASX 200 Companies

Pay up before profit!

Victorian Trades Hall Council

Every Australian company should be paying their workers a living wage that keeps pace with CPI, before they even think about posting a profit.

Australians are sick of the greedy companies like Visy, posting profits over $7billion at the same time that their cannery workers in Shepparton are being denied a decent pay rise. VISY workers have been on strike for over 8 weeks!

Put people before profit! Make sure every worker is getting a living wage before you brag about your growing profits.

Why is this important?

Working people are absorbing price increases on everything they buy and spending more of their wages on bills. Meanwhile, company gross operating profits rose 10.6% seasonally adjusted for Dec 2022.

The Reserve Bank continues to increase interest rates to tackle inflation, but excess corporate profits account for 69% of additional inflation beyond the RBA’s target. Rising unit labour costs account for just 18% of that inflation.

It's time that struggling Australians got their fair share of these massive corporate profits. Pay UP!



2023-03-23 09:07:50 +1100

10 signatures reached