Australia at a ‘tipping point’ with fight against inflation: McGauran

Former Advisor to John Howard Peter McGauran says Australia is at a “tipping point” with the fight against inflation after the Fair Work Commission decided to increase the minimum wage.

“Economists have long predicted where wages chase inflation, and fuel inflation and force up interest rates, which has another adverse effect on small business,” Mr McGauran told Sky News Australia.

“This is very dangerous territory.”