Workers get savings account boost

Mozo

Friday 21 August 2009

Some of the lowest paid workers in Queensland may see a boost to their savings accounts, thanks to a new development.

The Industrial Relations Commission has awarded the employees on the most meagre wages a pay increase of $16.20 a week, according to reports.

Deemed as a fair decision by the Australian Workers’ Union (AWU), the news may be of interest to those with high interest savings.

The AWU fought for the pay rise, in conjunction with the Queensland Council of Unions.

It follows the $23.60 weekly increase seen in 2008. The latest increase represents a 2.5 per cent boost for the average low-paid worker.

Chris Simpson, AWU senior industrial advocate, explained the rise was necessary because the price of living has continued to rise, from fuel prices to food costs.

"The commission’s decision is a good outcome for the AWU, its members and for working families across Queensland," he commented.

Hard work and savvy monetary planning is the key to building up a good financial base, according to a report in news.com.au, and is the secret behind many of Australian’s millionaires.

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