The Australian Council of Trade Unions (ACTU) has rejected any call for real wages to be cut to curb inflation.Instead, the ACTU says companies should accept profit cuts.
ACTU president Sharan Burrow says "You can't put the blame for an overheated economy at the door of working families struggling to pay their bills.
"While it's important to get the balance right, while it's important that inflation is controlled, we would reject any notion that you'd have a real wage cut for working families.
"The critical piece is that the balance is there, and that working families maintain their capacity to pay their mortgages.
"We don't want to see the economy that the US has where more and more families are defaulting on mortgages, where credit institutions are absolutely at the brink of collapse."
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