Gordhan supports National Minimum Wage report

Cape Town - The National Minimum Wage report offers a constructive approach to addressing inequality and unemployment, according to Finance Minister Pravin Gordhan.

A panel of experts commissioned by the National Economic Development and Labor Council (Nedlac) recommended a minimum wage of R3 500 a month.

National Treasury like various other stakeholders contributed to the preliminary minimum wage task team discussions at Nedlac.

“We believe that the panel has taken all the submission into consideration in coming up with a framework that seeks to support inclusive economic growth," said Gordhan.

The National Treasury fully supports the report, which Gordhan said "represents a balanced, thoughtful and constructive approach to addressing the challenge of inequality and unemployment".

He said the report, which also takes account of the need to support employment creation, also represents an important milestone for government.

"We encourage all stakeholders and South Africans to participate in, and support actively this collective effort to address fault lines, like inequality in society and in the economy”, he concluded.

Read Fin24's top stories trending on Twitter:

ZAR/USD
16.94
(-0.33)
ZAR/GBP
21.13
(-0.50)
ZAR/EUR
19.03
(-0.69)
ZAR/AUD
11.62
(+0.01)
ZAR/JPY
0.16
(-0.77)
Gold
1774.31
(+0.03)
Silver
18.02
(-0.04)
Platinum
808.00
(+0.25)
Brent Crude
42.78
(-0.79)
Palladium
1914.01
(+0.62)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1606 votes
I am taking a hit, but should be able to recover in the next year
23% - 2108 votes
My finances have been devastated
35% - 3172 votes
It's still too early to know what the full effect will be
25% - 2287 votes
Vote