Home topics news Image credit: Daniel Norris News Small Business News Unions call for increased minimum wage but SMEs remain wary Rhea Laxmi Nath April 7, 2022 The Australian Council of Trade Unions has argued for an increase in the minimum wage in the Annual Wage Review. In an announcement last week , it said it would argue for a 5 per cent increase in its submission, lifting the minimum hourly rate to $21.35 and the minimum annual rate by a little over $2,000. “If this Government is serious about addressing cost of living pressures, it starts with wage growth,” said ACTU Secretary Sally McManus. “There are practical things this Government can do to lift wages, but so far they have sat on their hands or pretended it’s someone else’s job. The biggest, and most immediate action the Prime Minister can take is backing this increase and arguing alongside us in the Fair Work Commission that this increase is what workers need and deserve.” According to the ACTU, one in four Australian workers rely on the Annual Wage Review for their pay rise. Submissions closed on 1 April and are now under review by an expert panel. In the Federal Budget last week, it was announced that welfare recipients and pensioners would receive a one-time $250 payment while the low and middle-income tax offset (LMITO) would increase by $420. A short-term cut to the fuel excise was also announced. However, the ACTU argues that wage growth continues to lag behind