Jason Wood (La Trobe, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on recent data releases on wage growth and any recent commentary on wages growth in Australia?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the member for La Trobe for his question. Like all of us on this side of the House, he understands that it has been tough for Australian wage earners over many years now. They have been grinding very hard on the wages issue. It is a great comfort that 401,000 people got a job last year, but wages is the issue they want to see change. It was pleasing last week to see an improvement in the wage price index; it was modest, but it is starting to turn in the right direction. Also, it is pleasing to see that average weekly ordinary time earnings for full-time adults increased by 2.4 per cent, which was the best result in three years. They are encouraging figures but there is more work to be done.

I'm asked about commentary. The Deputy Leader of the Opposition said on the weekend:

Wages have grown by about $3 per year over the last decade.

I thought: that doesn't sound right at all. The Deputy Leader doesn't know the difference between average increases per week and average increases per year. If you look at what people take home, the average increase per year for nominal incomes was $1,750 a year, not $3. I will give her the benefit of the doubt. Maybe she was talking about real wages—and for real wages it was $150 a year. So, after accommodating for inflation, not only can she not tell the difference between per week and per year; she also doesn't understand the difference between real wages and nominal wages.

I hate to inform her that there is a difference. Just like Africa is not a country and Libya is, real wages and nominal wages are different things. This side of the House is telling the truth about wages, we are telling the truth about jobs and, more importantly, we have the plan that is delivering for jobs and growth in this country. All we get from those opposite is deceit and mistruths seeking to scare people—because they have no plan.