Late in his campaign, Deputy President Cyril Ramaphosa unveiled a New Deal for the economy. It is derived from the National Development Plan and differs substantially from the radical economic transformation of his fellow candidate, Nkosazana Dlamini-Zuma. If they sound like the policies pursued by former finance minister Pravin Gordhan, they are. Gordhan has led and helped shape the economic planks of Ramaphosa's economics ideas.
Ramaphosa's New Deal: • Is based on the idea of a social compact entered into by the government, business, labour and civil society. Radical economic transformation is state-led; • Aims to create a million jobs in five years. This should be in manufacturing through the right mix of special economic zones, tax and other reforms, incentives and small and medium enterprise development; • Includes targeted growth and investment: 3% growth by 2018 and 5% by 2023. It aims to restore business confidence; • Puts SMEs at the centre of policies and aims to acc...
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