Penalty rates to be slashed
The Fair Work Commission has slashed penalty rates in a long-awaited decision handed down at 11am this morning.
After a process of consultations and submissions that started in 2015, the commission has decided to cut penalty rates for working on Sundays.
Businesses have long argued that Sunday penalty rates of double time should be more in line with Saturday rates of time-and-a-half.
The decision is in line with several workplace relations recommendations made by the Productivity Commission last year.
Thousands of retail, hospitality and fast-food workers will be affected by the decision.
Prime Malcolm Turnbull said prievious he will accept the decision of the commission.
Labor leader Bill Shorten said on Wednesday, "With wages growth at record lows and underemployment at record highs, there could not be a worse time to cut penalty rates."
"Millions of Australian families rely on penalty rates to put food on the table - Labor will fight for these people and their penalty rates."
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