The paper "Reward Negotiation and the Means of Resolution" is a great example of finance and accounting coursework. Over time, federal politicians who represent the people in parliament have shown dissatisfaction with their salary package and allowances. A list prepared by labour and coalition parliamentarians clearly demand a remuneration of $ 27,000 meant to compensate them for time spent in Canberra working. This is a good illustration that surviving in a political environment is a difficult task given many responsibilities and roles. After being rendered Jobless by citizens through policy reforms, MPs demand assistance in finding new job.
The support will be in the form of retraining allowance, a severance payment, and a five-month salary. The demand came in a six-page submission to the Parliamentary Entitlement Review Committee which was given the responsibility of examining parliamentary remuneration. In order for the negotiation to take place, government and coalition whips teamed up with an objective of fighting for generous entitlement. Their main point of concern was that federal MPs ought to be treated with dignity like everyday workers as a result given allowance covering ‘ sick and long service’ leave (Chalmers, 2010).
At the same time, MPs campaign to be given a choice between an electorate car and equivalent cash of $19,500. Another extreme is a claim for entitlement corresponding to three month’ s salary to those who have served for less than 10 years as legislators. Federal members of parliament believe that they should be treated like the average worker thus offered redundancy payment in times of job loss. The payment must reflect the time spent giving the service and standards in the community. According to MPs, there is a need for an extension of the 12-week resettlement allowance meant for overthrown parliamentarians to cover an extra two months.
So as to be ‘ job ready’ , members of parliament insist on taxpayers’ assistance to re-enter the general workforce with a capped allowance (Chalmers, 2010). The reason behind this is that MPs would require retraining or engagement with previous professionals in their respective fields. The remuneration tribunal appointed to negotiate rewards agree with MP’ s suggestions that electorate allowance is rolled into existing salary but superannuation to be calculated using base salary only.
With respect to nights spent at Canberra, the tribunal support the view that legislators receive an annual fixed allowance of up to $30,000 to substitute the current rates of $230. The tribunal is further considering reviewing salaries received by shadow ministers who have greater responsibilities. A measure to harmonise salaries is a proposal to abandon lucrative Life Gold Pass enjoyed by long-serving MPs and former prime ministers. Another equalising measure assumed by MPs is giving up yearly right of first-class airfare and receive $7,000 payment as a reimbursement. In an article by Boyle, (2010) the Senate praised a move by the tribunal to increase electoral allowance by $4700.
While liberal and labour senators unite to give themselves a hefty salary, they are at the same demanding that wages for workers should be frozen due to economic downturn. Salary increment proposed by federal members affects, directly and indirectly, an economic variable like employment and wage. When the Australian Council of Trade Unions made an appeal for a $21 minimum wage increment, employer’ s organization called for a freeze of wage.
The $21 rise would have raised the weekly federal minimum wage to $564.78. Whereas recent federal budget recognised increased pension for aged and people with disability, unemployed, single parents, young people and students were sidelined. Socialist Alliance argues that wages given to employee should reflect changes taking place in the economy. While the cost of food, power and rent rise, over time, wages must consequently expand respectively. At the moment, many residents in Australia are making effort to survive on a scale of $185 to $226 a week which is classified under international standards as below the poverty line.