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.”

Tut tut, and business blames unions for not agreeing to 'more flexible' lower wages. Whilst unions blame business that in nature (farming) there is no room for poverty but reject land taxes which reduce the cost of entry to nature

South Africa South Africa Latest News, South Africa South Africa 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 »