Wage restraint is New Growth Path's lesser evil.

Byline: Gavin Keeton

Wage restraint is New Growth Path's lesser evil 'Unit labour costs in SA rose 16% from 2007-09. In other countries, wage restraint meant many jobs were saved' IT IS unfortunate that much of the initial debate on the government's proposed New Growth Path has focused only on the proposals to limit future wage and salary increases. The New Growth Path proposes that future wage increases for those earning between R3000 and R20 000 a month be limited to & inflation plus a modest real increase& while at the upper end there should be a & cap (on) pay and bonuses for senior managers and executives earning over R550 000 a year& These proposals hope to ensure that the competitive advantages gained by an envisaged engineered weakening of the rand …