Thursday, September 14, 2023


Mackay and Whitsunday Life

Recession Fears

The Federal Government has just released Fair Work Legislation amendments and Federal Member for Dawson Andrew Willcox says he is worried about increases in business expenditure and the possibility of a recession.

According to Mr Willcox, the new amendments to the Fair Work Legislation are complex and are going to cost billions in wages.

“The amendments are going to cost consumers more, and this is the last thing Australians need in a cost of living crisis,” he explained.

“Rent has increased, cost of supplies has skyrocketed, and workforce shortages are a constant and never-ending battle.

“These are all costs that business must either absorb, which is unstainable, or they must pass the costs on to consumers, who can’t afford to pay more.”

The last time Australia entered a recession was in the early 90s, and with increasing financial pressures on businesses and individuals, recession is at the forefront of Mr Willcox’s mind.

“We are facing a serious threat of another recession,” Mr Willcox said.

Mr Willcox has called for the Federal Government to “do the right thing” and reverse the legislation otherwise he fears the repercussions could “grind this economy to a halt”.

“Don’t condemn us to more cost-of-living pressures. Don’t condemn us to business closures, job losses, bankruptcy, and even more homelessness.”

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