Mmusi Maimane proposes an extra wealth tax to finance a sovereign wealth fund
The fund, which could be used to create jobs and cushion the economy in tough times, is part of the DA’s economic reform policies
DA leader Mmusi Maimane has proposed a sovereign wealth fund that could be used to create jobs, and which would be raised by taxing the wealthy in SA. Maimane’s proposal is part of economic reform policies that the DA is working on. In an interview with Business Day on Monday, Maimane said the DA was concerned about the state of the economy and the fact that it was not a priority for the national government. The party’s policies will remain on paper unless it is elected to govern in 2019, which it hopes to do. The wealth fund is among new proposals to grow the economy, "create jobs and a more just society", said Maimane. It could also be used to cushion the economy during difficult periods, he said. It could be drawn from a 2% increase in taxes from the wealthy and large companies. The proposal remains under discussion within DA structures.
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