for subscribers

The flaw in the minimum wage debate

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - The minimum wage debate has again erupted with the release this week of a University of Witwatersrand (Wits) report that suggests a minimum wage for the country of between  R4 500 and R5 000.

Unions, civil society organisations, business and government at the National Development Economic and Labour Council (Nedlac) in June seemed to be moving toward an agreed minimum of between R3 000 and R3 700, although Cosatu was holding out for R4 500.

The latest suggestion from the Wits report maintains that the higher basic wage would provide an impetus to the local economy and boost South Africa’s gross domestic product (GDP) by more than 2%.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.55
(+0.59)
ZAR/GBP
22.98
(+0.69)
ZAR/EUR
20.67
(+0.46)
ZAR/AUD
12.60
(+0.46)
ZAR/JPY
0.17
(+0.90)
Gold
1996.04
(-1.58)
Silver
28.38
(-2.30)
Platinum
969.99
(-1.34)
Brent Crude
44.95
(+1.33)
Palladium
2205.99
(-0.78)
All Share
57298.04
(+0.95)
Top 40
52966.53
(+1.01)
Financial 15
10058.74
(+1.62)
Industrial 25
75128.73
(+0.61)
Resource 10
59722.27
(+1.31)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 947 votes
It depends on how the funds are used.
74% - 6313 votes
No. We should have gotten the loan elsewhere.
15% - 1300 votes
Vote