Opinion: Penalty rate cuts will take $30m from economy

Stock image.
Stock image.

I NOTE with some consternation and much frustration that cuts to penalty rates are being endorsed by many members of our Parliament.

I just want to say that as an Australian citizen, I see no reason to support such a move.

Cutting penalty rates will take $30 million out of the domestic market’s purchasing power, thus slowing the economy.

We should not allow the immediate gain of the few employers, whose rates of profit would increase by cutting penalty rates, to outweigh the benefits that accrue to the economy as a whole from maintaining penalty rates.

MIKE BALLARD,

Queens Park.