Since 2010, the minimum wage has been set by the Fair Work Commission’s Expert Panel. Each year it reviews the current minimum wage and issues a decision, which comes into effect on 1st July of the following financial year.
Seven people sit on the Expert Panel: a President, three other full-time members and three part-time members. They’re experts in workplace relations, economics, social policy and commerce.
Under the Fair Work Act (2009), the Expert Panel is required to publish all written submissions from interested individuals or organisations. The Expert Panel then makes comments on these submissions. The Act also demands that the research conducted by the Expert Panel be published, which ensures transparency and allows for submissions to be made based on the research.