Govt proposes salary caps

2010-11-23 22:36
Cape Town - The government tabled its new growth path in Parliament on Tuesday, part of which proposes a cap on salaries and bonuses for senior managers and executives earning more than R550 000 a year.

The document, unveiled by Economic Development Minister Ebrahim Patel, also suggests a cap on increases for all those earning more than R20 000 a month.

It proposes "moderate wage settlements" for those earning between R3 000 and R20 000 a month, "possibly to inflation plus a modest real increase", with "inflation-level increases for those earning over R20 000 a month".

Patel said the document also called for a broad pact between business, labour and government.

Such a pact would include commitments on wages, prices, savings and jobs.

There was a proposal, for discussion with business and labour, for moderate wage settlements linked to clear commitments by business to save jobs, create new jobs and address inequality, he said.
 

Read more on:    ebrahim patel  |  economy
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