#Budget2017: 'SA has to create new wealth, not only rely on redistribution'
Mcebisi Jonas says there needs to be a concerted effort to give the poor & marginalised access to the mainstream economy.
JOHANNESBURG – Deputy Finance Minister Mcebisi Jonas says the country has to create new wealth and not only rely on redistribution.
Jonas says there needs to be a concerted effort to transform the sectors in the economy which are preventing the poor and marginalised from accessing the mainstream economy.
He says this can only be achieved through education.
During Finance Minister Pravin Gordhan's budget speech in Parliament on Wednesday he announced the education sector would receive more than R320 billion in the 2017/2018 financial year.
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Jonas says transforming the economy is a sensitive matter.
“The danger of course in the discussion at the moment is that you counter post transformation with growth. We believe that it is not either or. We have got to build the economy but we have got to grow it in such a way that we begin to transform it.”
On Wednesday, Jonas refused to comment directly but said that patronage had a direct impact on both growth and inequality reduction efforts.
“What the minster calls political noise, has a direct impact on the kind of work we are doing either in ensuring that there is certainty of policy direction, some of the programmes that we are driving as government, obviously when you are approaching conferences the political noise tends to intensify for obvious reasons.”
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(Edited by Neo Koza)