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BL Premium reports that trade union Solidarity has identified a stable currency, construction and maintenance of infrastructure, and a trained workforce as among five priority areas the government needs to focus on to grow the economy.
The other areas are a predictable tax burden and the upholding of law and order. In a briefing on Wednesday to launch the economic recovery plan of the Solidarity Research Institute (SRI), it said SA’s economic potential was hampered by “its own doing”. While SA has experienced more than 100 days without load-shedding, the country is still grappling with high unemployment, low economic growth, crumbling infrastructure, widening inequality, systemic corruption and poverty. The SRI indicated that a copy of its economic recovery plan had been handed to the National Treasury with the hope it would “now be possible to put one’s trust in meaningful economic policies”. SRI economic researcher Theuns du Buisson said growth was essential for the state to first get its finances in order without putting further pressure on citizens due to taxation. “It is indeed possible to change course, even now. Solidarity believes that strong economic growth forms the basis for a strong SA in which all communities will come into their own. This report proposes a clear plan in terms of which such strong, sustained growth will be achieved,” Du Buisson said. He added: “We hope that the new administration, now that its strong ideological handcuffs are slightly loosened, will be able to start making better decisions regarding the economy. Only then can attention be given to challenges such as poverty and inequality. This is an opportunity to head in a direction that we know can work, as it has worked elsewhere. What is needed however, is the willingness to recognise this and to then take action.”
- Read the full original of the report in the above regard by Luyolo Mkentane at BusinessLive (subscriber access only)
- Read too, Solidarity proposes economic recovery policies based on international examples, at Engineering News
- En ook, Tyd vir nuwe ekonomiese planne is nou – Solidariteit, by Maroela Media
Get other news reports at the SA Labour News home page