David Masondo says government in ‘serious’ talks with labour unions over wage bill
Deputy finance minister tells the Association of Black Securities and Investment Professionals that Eskom’s problem is not just its debt but largely about its cost structure
The government is having “serious conversations” with labour unions as it seeks to cut a wage bill that’s constraining its ability to provide services and avert a credit-rating downgrade, says deputy finance minister David Masondo.
“We really need to shift our expenditure from consumption and wages,” Masondo said at a function hosted by the Association of Black Securities and Investment Professionals in Sandton on Thursday night. “We are in serious conversations with the labour movement on this matter.”