The Albanese Government introduced the Closing Loopholes bill in response to extreme price exploitation and profiteering by large corporations, which significantly contributed to inflation. This legislation aims to enhance job security, address wage theft, improve workplace safety, and stimulate wage growth.
Predictably, the Coalition and big business are fiercely opposed to the bill, making exaggerated claims about these reasonable reforms.
The bill is set to positively impact the earnings of Australian workers, breaking the pattern of stagnant wages that has persisted for a decade.
Currently, certain businesses continue to misuse loopholes to suppress wages in a deliberate race to the bottom.
An illustrative case of this was Qantas' illegal dismissal of 1700 employees in 2020, utilising labour hire loopholes. Although union members secured a significant victory, Qantas' attempt at such blatant misconduct underscores the extent to which large businesses will go to enhance profits.
The 'Closing Loopholes Bill' is designed to implement various measures for better worker protection, ensuring secure employment and fair wage increases. This includes vital changes such as establishing minimum pay and conditions for gig workers, eliminating the use of labour hire loopholes by big business, and increasing support for casual workers. Additionally, it aims to criminalise wage theft, holding employers accountable for deliberately underpaying workers.
To read a comprehensive summary of the proposed legislation, click here.
Reforms are essential to guarantee fair wages for workers. While corporate profits are soaring in Australia, the workers who are responsible for these profits are not receiving their due share. The disparity in income distribution is evident, with executives at top Australian companies receiving pay raises of fifteen percent or more, in addition to their already substantial salaries and bonuses.
The coalition's resistance to these reforms is indicative of their prioritisation of large businesses and their CEOs over the average Australian worker.
This status quo must be challenged. To oppose the manipulative tactics of big business and the coalition, and to support wage growth, sign our petition today to close the loopholes.