Today's Labour News

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ramaphosa2BusinessLive reports that Cabinet has adopted the stimulus package intended to ignite an economic recovery.  

President Cyril Ramaphosa will hold a media briefing on Friday to provide details of the stimulus package, which has been constructed from the contributions of various departments.  He will also provide details of the mining charter adopted by cabinet.  The government will need R43bn to fund, among other things, the stimulus package, according to sources familiar with discussions around the package at a recent cabinet lekgotla.  No further detail has yet been made available, but the package would apparently be based on “existing budgetary resources and the pursuit of new investments while remaining committed to fiscal prudence”.  Cabinet has also approved the mining charter as part of this package, which covers manufacturing, tourism, infrastructure development and easing the cost of doing business.

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