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PM Press Conference-Minimum Wage Raise, Genesis Energy Sale

PM Press Conference - Minimum Wage Raise, Genesis Energy Sale - 24 February, 2014

Scoop Audio+Photos

By Jamie Neikrie


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At the Prime Ministers weekly Post-Cabinet press conference today in Wellington, John Key discussed the minimum wage, sale of Genesis Energy, and superannuation.


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Prime Minister Key confirmed today at his weekly press conference that the Cabinet has decided to raise the minimum wage from $13.75 to $14.25. The decision comes in response to promising economic indicators - unemployment has fallen to 6% and 24,000 more jobs were available in December.

The increase kicks in on April 1.

See press release here:

The Starting-Out and training minimum wages will increase from $11 an hour to $11.40 an hour, which is 80 per cent of the adult minimum wage.

When questioned whether Key hopes raising the minimum wage will boost all wages across the board, the Prime Minister replied, “If the economy is doing better then [employers] should share the wealth and we would encourage them to do that”.

The Prime Minister also announced the continuation of the State Owned Enterprises program with the sale of shares in Genesis Energy “in the next month or so.”

The press briefing also included discussion of Australia's superannuation plan.

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