Under the Rudd Government's new workplace relations system, Fair Work, the Minimum Wage Panel will set and adjust minimum wages including minimum wages in modern awards and casual loadings.
The Minimum Wage Panel will be made up of the three specialist members together with four other members of Fair Work Australia, including the President.
The three new appointments to Fair Work Australia's Minimum Wage Panel are Peter Dwyer, Professor Sue Richardson and John Vines.
As promised, the Minimum Wage Panel will hand down its first minimum wage review decision in time for it to be implemented for the first pay period on or after 1 July 2010.
The decision will set the minimum wages of all employees within the national Fair Work system. As at August 2008, 16.5 per cent of employees were paid the exact award rate.
In its determination, the Minimum Wage Panel will consider the performance and competitiveness of the national economy including productivity, business competitiveness and viability, inflation and employment growth.
The Panel will also be able to commission and publish economic and social research to inform its decision making.
The panel will also take into account:
- promoting social inclusion through increased workforce participation, relative living standards and the needs of the low-paid;
- the principle of equal remuneration for work of equal or comparable value; and providing a comprehensive range of fair minimum wages for junior employees, employees to whom training arrangements apply and employees with a disability.
- appointments to the Minimum Wage Panel will be part-time and appointees have expertise in one or more of workplace relations, economics, social policy, and business, industry or commerce.
