[Greens-Media] Markets peak as workers hit rock bottom

[Twomey, Chris (Sen R. Siewert)]

Markets peak as workers hit rock bottom

Stocks' record highs yesterday on the back of an expected 25 per cent
profit growth for this reporting season puts a lie to the Government's
rationale for its radical IR changes.

One wonders if there is a link between this huge spike in profit
expectations and the start of the Howard government's one seat majority
in the Senate this week. 

This appears to be a pre-emptive strike by investors excited by the
promise of an industrial relations 'reform' agenda expected to reduce
workers wages and conditions and make it easier to unfairly dismiss
them.

"The ASX 200 has hit a new high. The markets seem to be pricing in a
huge transfer of wealth away from the Australian workforce and into
corporate coffers," said Senator Rachel Siewert, Greens spokesperson on
Industrial Relations.

 "These are ideologically driven changes aimed at giving bosses
unfettered control over workers and putting even more cash into the
pockets of big business" 

Senator Siewert addressed an industrial relations rally in Canberra this
morning, the latest in a series of these rallies around the nation. She
said -

"These changes will hit hardest those least advantaged in our society -
young people, women, those in low paid work, casuals and temporary
workers".

"This is neither fair nor just. It is an attack on the human rights of
Australian workers".

Senator Rachel Siewert was sworn in and assumed her seat in the Senate
today, also taking on the position of Party Whip. You can expect to hear
a lot more from her in the future. Her inaugural speech will be on
Thursday at 5.50 pm.

For more information contact:
Chris Twomey 0407 725 025 or email chris.twomey at aph.gov.au

Photos of Senator Siewert at today's rally are also available.