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'Min wage (R3500) to cause retrenchments, but for many it’ll be a big relief'

24 October 2017 8:12 PM
Tags:
National Minimum Wage
Minimum wage
The Science Of
SA Payroll Association

The Money Show’s Bruce Whitfield interviews SA Payroll Association Exco Member Nicolette Nicholson.

For the poorest of the poor; the R20 per hour is going to be a huge relief.

Nicolette Nicholson, SA Payroll Association

With the national minimum wage… we will see retrenchments… we could potentially see businesses close down… especially in the drought-stricken Western Cape…

Nicolette Nicholson, SA Payroll Association

The term “minimum wage” refers to the smallest amount an employer may legally pay its employees.

Some people think the minimum wage should be raised so poor workers will have more money.

Others warn that raising the minimum wage will cause Government’s wage bill to increase, causing tax hikes.

There is also fears that raising the minimum wage will see companies retrench workers and/or become reluctant to hire more employees.

South Africa’s minimum wage is set to be implemented by May 2018.

It is set at R3500; translating to R20 per hour over a typical work month.

How minimum wages compare (PPP).

The Money Show’s Bruce Whitfield interviewed SA Payroll Association Exco Member Nicolette Nicholson for his weekly "The Science Of" feature.

For more detail; listen to the interview in the audio below (and/or scroll down for more quotes from it).

National Treasury consulted a number of stakeholders [to arrive at R20 per hour].

Nicolette Nicholson, SA Payroll Association

Labour legislation is contradictory… there will be quite a bit of unintended consequences…

Nicolette Nicholson, SA Payroll Association

The poorest of the poor is excited about the R20.

Nicolette Nicholson, SA Payroll Association

There are a lot of female headed households… quite a number of them will be happy with the R3500 per month… because many of them earn R1500…

Nicolette Nicholson, SA Payroll Association

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24 October 2017 8:12 PM
Tags:
National Minimum Wage
Minimum wage
The Science Of
SA Payroll Association

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