The treasury has warned of significant trade-offs in the wake of the recently-inked public sector wage deal.
has warned of significant trade-offs in the wake of the recently-inked public sector wage deal.
The treasury claims the deal encompasses a 7.5% hike, although this amount conflates the current non-pensionable cash gratuity and a nominal 3.3% wage increase. Unions that have rejected the deal say the actual increase amounts only to 2.8%.“The 2023 budget did not pre-empt the outcome of the wage negotiations. In this regard, the outcome of the wage bill negotiations was identified as one of the key risks to the fiscal outlook presented in the budget.
“Therefore, government will initiate processes to ensure that the latest wage agreement is implemented through significant trade-offs in the short-term and over the medium-term. “Fiscal policy will remain focused on reducing fiscal risks and supporting measures to grow the economy. This will ensure that the overall fiscal path as outlined in the budget is maintained.”
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