Presidency: Talks over new tax laws are going well

The Presidency says government met with Cosatu yesterday and are confident a resolution will be reached.

FILE: The Presidency has appointed Minister Jeff Radebe to address the concerns over the new tax laws. Picture: Vumani Mkhize/EWN.

JOHANNESBURG - While the progressive nine unions have rejected the Presidency's announcement to appoint Minister Jeff Radebe to address the concerns over the new tax laws, the Presidency says talks between the minister, National Treasury and the Congress of South African Trade Unions (Cosatu) are going well.

Last month, President Jacob Zuma signed into a law an act that will see people only being able to take out a third of their provident fund as a lump payment when they retire.

The law is due to take effect in March but has been strongly opposed by unions.

Yesterday, Zwelinzima Vavi led the progressive nine unions supporting Numsa in a demonstration at the Union Buildings opposing the new laws.

WATCH: Vavi calls for mass protests over new pension laws

The Presidency's Bongani Majola says Minister Radebe met with Cosatu yesterday and they are confident a resolution will be reached.

"Bothe government and Cosatu have agreed that the solution should be expedited to resolve this impasse. In this regard the Presidency is working with relevant government departments to find the quickest possible legal route to resolving this issues."