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But this is even worse than that. If penalty rates are cut now retail employees are faced with the real prospect of taking home less pay than they did previously despite being among the lowest paid workers in the country. It'll send many to the wall and that's the truth... particularly with those who are renting.

This is gonna trickle down. People with less pay are going to spend less, and it'd hit profits like supermarkets...  Less pay on Sundays will also mean less spending on Sundays when those people aren't working.

 

Already Coke sales are down - and people say it's because of health risks? Nup... The families are budgeting, and it hit the other industries soon (What's next? M&Ms?).

 

Time will tell how the whole economy adjust itself with people spending less and less. Hopefully we wouldn't end up like Japan.. Decades of Stagflation. 

 

Can't blame any parties for this to be honest. At least I don't think so, but this is gonna make Turnbull look bad regardless.