Ebrahim Patel. Picture: FREDDY MAVUNDA
Ebrahim Patel. Picture: FREDDY MAVUNDA

Alexis de Tocqueville observed that democracy and socialism have nothing in common, but one word, equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.

In his budget vote speech in the National Assembly, trade industry and competition minister Ebrahim Patel said a new bill containing amendments to the Companies Act will be finalised within the next two months to tackle what he termed “the gross injustice of excessive pay”.

The legislation will also require disclosure of what executives earn.

Michael Avery hosted the following for a roundtable on executive pay:

• Dr Mark Bussin, chair of 21st Century Pay Solutions;

• David Holland of Fractal Value Advisors and author of Beyond Earnings;

• Etienne Vlok, Southern African Clothing and Textile Workers Union (Sactwu) national industrial strategy co-ordinator.

Michael Avery hosts a panel to discuss the amendments to the Companies Act

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