DA lays out blueprint for economic growth

THE DA wants to introduce a cap on “excessive” executive salaries in state-owned and private enterprises.

The party launched its economic policy in Cape Town yesterday in which it outlined the party’s strategy to achieve its eight percent economic growth and 6 million jobs target, should it win sufficient votes to take over the government after the elections. DA federal chairman Wilmot James said curbing excessive salaries that were often not linked to the performance of companies was part of the DA’s economic policy reforms.

James said the party would introduce a system to privatise state-owned corporations and a share equity scheme that would be available to ordinary South Africans. The party, he added, wanted executive pay in all enterprises to be closely scrutinised. He said the party’s economic policy was based on a 10-point plan which would:

Provide leadership on the economy.

Manage public money bet-

ter.

Provide direct incentives for job creation.

Make sure labour laws support job creation. Support small businesses. Support redress. Create an enabling environment for growth. Invest in knowledge. Increase investment and savings and boost trade.

“If we can get these key drivers in place, the DA believes that the South African economy can grow at up to 8 percent per year to help create six millions jobs in 10 years,” said James.

He also touched on the volatile and strike-ridden labour market. He said the DA would introduce a system of “strike balloting” to ensure that unions get a mandate to vote.

DA leader Helen Zille said for many South Africans the political freedoms achieved since 1994 have not been matched with “meaningful inclusion in the economy”.

DA finance spokesman Tim Harris said the country needed to provide “direct incentives for job creation” while calling for the introduction of a “real, strong” youth wage subsidy unlike the current “watered down” one.