The DA says it will push for the adoption of a “fiscal responsibility” bill should it come into power.
In February, finance minister Tito Mboweni said the upward trajectory of the debt-to-GDP ratio, which is set to reach 60.2% in 2023/2024 and 60.1% the following year, is a major issue of concern. He warned that this trend will lead commentators to talk of the dangers of a debt trap and result on people believing SA could not manage its finances and might need assistance.Maimane said on Monday that SA’s financial situation was dire.
Maimane said the party, if elected to lead the country, would reform legislation, mitigate fiscal risks, launch a voluntary civil service, upskill teachers, increase the child grant, create an enabling environment for small businesses to thrive, reduce the size of the cabinet and professionalise the police.
Maimane said a jobs bill would make provision for special incentives to local and foreign investors who met a minimum employment requirement. These incentives include repatriating international investment profits, easing forex controls for investors, creating medium-sized business access to a specialist department of trade and industry arbitration team to assist with costs, and to make hiring and firing employees easier through a labour market flexibility exemption clause.
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