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Socialist Revolutionary Workers Party to lobby for Sarb to be nationalised

The party believes that unemployment can be abolished in five years and wants to restructure personal income tax to be directly proportional to earnings.

Socialist Revolutionary Workers Party (SRWP) convenor Irvin Jim. Picture: @SRWPSouthAfrica/Twitter

JOHANNESBURG - The Socialist Revolutionary Workers Party (SRWP) says that nationalising the South African Reserve Bank is one of the key policy objectives that it will lobby for.

The party said that its manifesto is anchored on equality, work and land.

It believes that unemployment can be abolished in five years and wants to restructure personal income tax to be directly proportional to earnings.

SRWP convener Irvin Jim took time outlining how the party is different from the African National Congress and the Economic Freedom Fighters, but it appears it agrees with the red berets and President Cyril Ramaphosa on one thing.

Finance Minister Tito Mboweni has dismissed the idea of nationalising the central bank in the past, saying that it will burden Treasury but the SRWP said this is one of the ways to right the wrongs of past inequality and to abolish unemployment, which now stands at 27%, another one of the party's policy objectives.