Business blames unions for weak economy

Business Leadership SA boss says labour's inability to compromise on salaries at Eskom and on its unbundling has weighed on growthBLSA CEO Bonang Mohale says workers' above-inflation salary increases at Eskom in 2018 are partly to blame for SA's low growth. Picture: SUNDAY TIMES

The business organisation, which represents more than 70 of the country’s biggest companies, said labour’s inability to compromise on salaries at Eskom and the unbundling of the embattled power utility has weighed on the economy. While the Treasury expects growth of 1.5% in 2019 , the Reserve Bank, which expects 1.3%, said in April that if power cuts persist throughout 2019, it could shave as much as 1.1 percentage points off growth for the year and more than 100,000 job losses.

“The economy is weak because of the supply-side of the economy that doesn’t allow people to participate.”

This is an utter distortion of facts!

They know very well that that is ABSOLUTE BS!

Unions should be banned

Starting to feel the pinch too?

I think that’s correct but ultimately the buck stops with government.

True. A fragmented labour union environment is dangerous for any economy. They compete with each other instead of working in the interest of workers.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom burns on through bailout | Business | M&G🔒 Concerns are growing about whether Eskom will bankrupt itself to keep the lights on for the next 10 days until the national elections. This comes after the government coughed up a R5-billion emergency bailout at the beginning of April. 😳😳 question is can the count? What's a 0 here and there between themselves?
Source: mailandguardian - 🏆 2. / 92 Read more »