Australia raises minimum wage

Australia’s new independent workplace-relations tribunal has pledged to raise the country’s minimum wage by 4.8 per cent from July 1st.

The move means the wage rate for the country’s lowest paid workers will rise to $15 an hour.

However, business groups have expressed anger at the increase, claiming it will put more pressure on small businesses struggling to shake off the effects of the recent global financial crisis.

"This decision has nailed the coffin in on small business and thousands of jobs for working Australians," said Scott Driscoll, national president of the United Retail Federation lobby. Such news may interest Aussies looking to compare debit cards in search of the best spending tools.

The proportion of Australian workers on the minimum wage is thought to be a little over ten per cent of the working population or 1.4 million people.

Meanwhile, a poll revealed this week that almost half of Sydney’s residents believe they need to earn at least $100,000 to live comfortably in the city.

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