Your bargaining newsletter #2

Wage austerity and the RBA

First meeting of the negotiations

On Thursday the 20th of May our Bargaining Representatives met with RBA Representatives to commence negotiations for your new Workplace Agreement. The application of the Government’s Public Sector Wage Policy to the RBA Workplace Agreement was a significant point of discussion, when Governor Lowe dropped into our meeting.

Click here for our recent update on negotiations.

Now is the time to start talking to your colleagues about this deeply flawed policy and why it shouldn’t be adopted by the RBA. Share this newsletter with them and, if they aren’t already, encourage them to become a member of their union.

Not a member of the FSU? Join your union today:


What is the wage price index policy?

Introduced in November of last year, the Public Sector Workplace Relations Policy 2020 outlines several protocols & guidance for Commonwealth public entities to apply during negotiations of workplace agreements.

This policy, among other things, introduces a rule that government sector wage increases cannot be greater than the private sector Wage Price Index as measured by the ABS.

However, such a measure simply restricts wage growth at a time where the RBA itself is advocating for an increase in wages to aid Australia’s economic recovery. We believe that such a policy is untenable and should not be the determining factor for RBA staff salary adjustments outlined in the next Workplace Agreement.

It is important that RBA staff are aware of what this Government policy really proposes so we have linked the full policy here: Public Sector Workplace Relations Policy 2020

Over the coming weeks we will be providing information that breaks the policy down and provides a good understanding of its impact and what it would mean if applied to your terms and conditions. Make sure you and your colleagues have all the information at hand by passing on the link below to sign up for upcoming FSU Newsletters.

The Age mentions RBA’s recent board meeting, in a discussion of our need for sensible policy, not destructive wage austerity:

“…now is not the time to impose austerity measures of any kind on the wages paid to essential public sector workers; rather, governments should be using their fiscal firepower to drive their wages up, putting pressure on the private sector to follow suit.”

Read the full article


RBA Staff Agreement – What’s Happening?

The second negotiation meeting is scheduled for Thursday 3 June. At this meeting we expect RBA management representatives to respond to the FSU members’ claim.

We will continue to keep you updated on negotiations and what next steps members need to take to ensure a fair agreement for all.

Missed the first newsletter? Find issue #1 on our website.

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Have a question about your Workplace Agreement? Something about how negotiations work? You’re probably not the only one! Submit a question and have it answered in the next RBA Newsletter.

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In Union,
Your FSU National Executive Council for RBA

Authorised by Julia Angrisano, National Secretary