Opposition Says South Africa Needs Change

27 July 2012 17:00 - Phoebe Robinson

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Opposition Says South Africa Needs Change

South Africa’s growth forecast has been cut by the World Bank. The cut from 3.1% to 2.5% this year was accompanied by a stark warning that the economy could be tipped into recession if the eurozone crisis intensifies. It also reflects the failing attempts of the South African economy to keep up with many of their developing peers.

In the recent past there has been a major shift in the path of the global economy, it has moved away from the old industrial world. The South African economy is faltering. The growth rate is averaging 3.6% in the past decade and investor confidence is not good at the moment and employment figures are getting higher and higher.

It seems obvious that South African needs change. This Weekend the opposition alliance aims to show how this is possible, they are launching a strategy that will accelerate annual growth to 8%. In particular, it proposes tough reforms to labour laws by removing the automatic extension of collective bargaining agreements across sectors, this includes establishing ‘jobs zones’ which will feature special exemptions from restrictive regulations and lifting administrative requirements for small business.

This changes will have a number of effects one that should make a significant difference is barriers to entry will be reduced, also flexibility and stimulate productivity in South Africa’s principal labour-absorbing sectors such as mining, manufacturing and agriculture. These changes along with a focus on employment incentives are a contrast to what South Africa has in  store for the future at the moment.



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