The Science Of ...

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

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

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Daily Maverick – pivotal to democracy (e.g. #GuptaLeaks) – asks for a donation

Daily Maverick – pivotal to democracy (e.g. #GuptaLeaks) – asks for a donation

The Money Show’s Bruce Whitfield interviews Daily Maverick Publisher Styli Charalambous.

Costa Rica went from broken and poor to brilliant and prosperous in 15 years

Costa Rica went from broken and poor to brilliant and prosperous in 15 years

A story of hope for South Africa. The Money Show's Bruce Whitfield interviews Dr Adrian Saville (Cannon Asset Managers, Gibs)

Investing in art 101 (a dummies' guide)

Investing in art 101 (a dummies' guide)

The Money Show’s Bruce Whitfield interviews Julie Miller, founder of the Julie Miller Investment Art Institute.

Banking regulation… it’s boring, but it has already saved us all at least once

Banking regulation… it’s boring, but it has already saved us all at least once

South African banks are strong, because they’re well regulated. Bruce Whitfield interviews SA Reserve Bank’s Kuben Naidoo.

South Africa’s draft Mining Charter 3 for dummies (highly intelligent ones)

South Africa’s draft Mining Charter 3 for dummies (highly intelligent ones)

The Money Show’s Bruce Whitfield interviews Strata Legal (Pty) Ltd Director Brandon Irsigler.

How ‘mature’ leaders create value (and how destructive immature one always are)

How ‘mature’ leaders create value (and how destructive immature one always are)

Who comes to mind? The Money Show’s Bruce Whitfield interviews Rob Worthington-Smith, founder of FarSightFirms.

Popular articles
Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

Friday Profile: Nelson Mandela Foundation's Sello Hatang

Friday Profile: Nelson Mandela Foundation's Sello Hatang

This Friday Azania Mosaka explores the life of Sello Hatang, chief executive officer of the Nelson Mandela Foundation.

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?