Deputy finance minister says 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.”A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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