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 growth
As SA’s growth outlook threatens to stutter once again in 2019, business has called labour to task for its alleged role in holding the economy back. “There is no difference between labour and capital today. The secretary-general of a union earns the same salary as a CEO. All they are looking for is returns on their investment,” Business Leadership SA (BLSA) CEO Bonang Mohale told Business Day on Wednesday, Workers’ Day. 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. “Our social compact says for the sake of being globally competitive, you will forgo increases above inflation. The single biggest risk to the economy is Eskom. Had the unions compromised, they would not have taken salary increases or bonuses and Eskom would not have escalated load shedding from stage one to stage four,” said Mohale. SA saw ...
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