Deputy Finance Minister announces freeze of public-sector wages

Business Report writes that Deputy Finance Minister David Masondo said on Monday that the government was planning to freeze wages across its operations to curb its escalating expenditure. He said the government was working on a co-ordinated plan to reduce its debt, pointing out that fiscal consolidation and the public sector wage bill would be the hallmarks of next year’s much-anticipated Budget. Cutting the public wage bill was the most practical to address expenditure costs, he said. “Part of the reprioritisation of our expenditure would mean moving away from the recent trend of the fiscal Budget increasingly becoming a bailout fund for state-owned companies,” he said. Masondo said the government would not be able to raise taxes further in such a depressed economic environment. 

by Siphelele Dludla


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