Last week Governor Dr. Phillip Lowe justified RBA’s sub-par Enterprise Agreement offer because it’s ‘the average’.
‘But remember, four per cent is the average increase across the country. That’s what we’re offering to our staff—not more than the average Australian but not less either.’
Dr Phillip Lowe, House of Representatives Standing Committee on Economics
Is your contribution to the Bank just ‘average’? Do you think the work you do for the Australian public is just ‘average’? Or do you think the RBA should support the public and their staff?
Join our FSU meeting on Thursday 17 August at 3pm, and find out more about RBA’s sub-standard proposal, and why we shouldn’t settle for ‘average’ pay and conditions.
Although the RBA claims that the current offer tracks the wage increases of the average worker, they have failed to mention that total remuneration growth, including bonuses and benefits, for this year have grown 9.3% for the average worker and 11.3% for the financial sector (ABS). Since RBA staff are receiving little or no expansion to non-wage income – the Bank’s 4% offer comes nowhere near meeting the average worker’s salary increase, and certainly not the salary increase of financial services workers.
We’ll provide you with all the facts about the Agreement and answer your questions.
The meeting has now passed
RBA are insisting on quickly pushing this inferior Agreement to ballot on 21 August. But we’ll be ready to say NO.
Let’s show them that since they’ve rejected giving us a decent pay rise and many of our claims, then we reject this offer too.
Commit to voting NO at the upcoming ballot.
In unity,
Your FSU Team
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