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Gigaba won't change policy

Economy

Cape Town - Finance Minister Malusi Gigaba has promised Parliament he would not change any policy in the National Treasury.

He told MPs he would stick fiscal consolidation and ensure that the economy grew to create jobs. It has been projected the economy would grow at less than 1 percent this year.

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Finance Minister Malusi Gigaba during the Gala dinner at Durban ICC during the WEF summit on Africa. He will soon be visiting Singapore on a mission to expand trade between the two countries. Photo: Motshwari Mofokeng

In his first appearance in Parliament on Tuesday since his appointment to the National Treasury more than a month ago Gigaba said government did not speak in forked tongue on economic policies and was not sending mixed messages through his economic adviser Chris Malikane.

Malikane has advocated for the nationalisation of mines and banks.

But Gigaba said government policy would remain unchanged unless the ANC decided to do so at its police conference in June and elective conference in December.

“With regard to radical economic transformation as outlined by President Jacob Zuma in February the debate about radical economic transformation is an ongoing discussion in South Africa,” he said.

He said no matter whether the programme was called radical economic transformation or inclusive growth the main objective was to fight poverty and inequality.

Read also: Gigaba set to woo Singapore investors

The government was also committed that small, medium and micro enterprises benefit from the R500 billion procurement programme.

Gigaba said this was to ensure they spread the slice of government’s goods and services, and that not only big companies benefit from this huge government programme.

The R500 billion procurement programme would also benefit the youth, women, townships and rural communities.

BUSINESS REPORT ONLINE

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