We’re being sold ‘get-fixed-quick’ schemes. It’s destroying our nation

August 2, 2026 — 5:00am

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There is no cost-of-living crisis in Australia. What we have is a fake wage crisis. It’s costing Australians their peace of mind, their ability to build a life and, as recent research from the Reserve Bank of Australia suggests, perhaps even their grasp on reality. It’s leading to a surge in populism as politicians gaslight voters over the solution to the problem.

In 2022, concerns over the cost of living decoupled from economic management in the minds of voters – though the two are, of course, directly related. Since then, the gap between them has become larger and more consistent.

First the good news. You’re not crazy. The OECD has confirmed that real hourly wages have fallen by 5 per cent in Australia over the past five years. The number on your payslip may have gone up, but it’s buying less than ever.

Now the bad news. Politicians have worked out that voters reward them for the illusion of extra money more than for actually doing the hard things necessary to make you better off. So they focus on pushing the number on the payslip up by backing wage increases. Or making the number at the petrol bowser look lower through a temporary excise cut or “discount”, as both the Morrison and Albanese governments have done, instead of fixing the fundamentals.

It should be called out for what it is: a con. Wage theft by stealth, or wage fakery. Many Australians have fallen for it, and it’s destroying our nation.

Your boss will........

© The Age