Sign of the Times Pardon me, I’m not an economist, but I fail to see how cutting the wages of low paid workers and the poor will save the economy. According to Stephen Koukoulas of The Guardian , Australia currently has around 725,000 unemployed people and 1,067,000 people who are underemployed, not counting those who have given up looking. You are officially 'employed' even if you only work one hour a week. Even if and it’s a big if , employers do put on another worker, also on a low wage, where will the extra money come from to buy more beer, another coffee or more things? The same goes for cutting pensions. Our retirees, unemployed people and those on disabilities have also come in for their share of cost cutting, so less money will be spent in the community, especially as all other costs are rising, and wages have barely moved since the Global Financial Crisis, despite significant increases in corporate profitability. Instead, it will be like a reverse stimulu...
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