To further my criticism of the comments made by Maurice Newman, I just stumbled upon this article in The Guardian.
To quote Alan Milburn, the UK’s government’s adviser on social mobility, “In most developed countries there has been a declining share of economic growth going to labour (and a higher share to capital) at the same time as there has been growing wage inequality.”
Wage growth has no aligned with economic growth for decades; a problem that is shared in many countries.
The fact that Australia is very expensive exacerbates the problem locally.
Maurice Newman might understand business, but he does not understand the pressures on the average working Australian.