Johannesburg - It has become clear that the economic reforms needed in South Africa cannot come from an African National Congress government stuck in the past and committed to a worldview long abandoned by the rest of the world, Democratic Alliance leader Mmusi Maimane said on Saturday.
Government's role was to free them up to create the millions of new jobs needed. The economy had to be decentralised and demonopolised. A far greater focus had to be placed on the role of small businesses in job creation, and cities had to be placed at the forefront of economic growth. The act provided for special tax incentives and property allowances for foreign companies that met certain socio-economic empowerment goals. "We will also legislate a wide range of incentives for foreign companies, which will include key areas such as industrial projects, enterprise investment, critical infrastructure, research & development, agri-businesses, and film and TV production.
Regarding SMMEs, the Jobs Act would protect and support this crucial sector of the economy by ensuring greater flexibility in the labour market through minimum wage exemption for businesses that fell into certain classifications. This would keep the doors open to thousands of small businesses and protect the jobs of hundreds of thousands of employees, Maimane said.
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