Government’s sweetened wage offer to 7.5% will make it harder for the Treasury to achieve fiscal sustainability
The government has raised its wage offer to the country’s more than 1.3-million public servants to 7.5%, the second offer in as many weeks, threatening to undermine the credibility of the budget tabled in February.
The sweetened offer makes it more difficult for the Treasury to achieve planned fiscal sustainability as it pencilled in an average annual growth rate of 1.6% in government employee salaries for 2023/2024, an estimate that means the wage bill would overshoot R700bn...
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