It may seem like an aside but hear me out. I listened to an interesting discussion on "The Money" the other day:
https://www.abc.net.au/radionational...times/14090348
This discussed central banks worldwide dropping historically low inflation targets of old such as the 2-3% band of the RBA in part, because policymakers are working against them (monetary policy versus fiscal stimulus) with ever increasing spending and in part, becase it leaves no lever left to pull when interest rates go to zero as they did. Governments are now also looking for inflation to cure the debt problem, which it can do to a large degree.
As it happens, the new Labor government, with bipartisan support, is conucting a root and branch review of the RBA with a view to changing their primary objective from inflation targeting to "other measures". It would not be at all surprising to find that inflation ends up remaining higher than 3% for the forseeable future in part due to continued growth in both government and consumer spending and in part due to to a new ambit for the RBA.
That may leave Jetstar's "attractive" offer of a to year wage freeze + statutory obligations + 3% looking a little less attractive.
I'll be interested to hear what advocates will say for this deal in public. I'm not particualrly interested in the clause "If they get 5%, we want it too". That sounds like a recipe for getting squat.