NDP to co-operate in job creation: Gordhan

Finance Minister Pravin Gordhan told to Parliament on Wednesday - With the support and collaboration of business and labour, government will now unveil out number of new packages informed by the National Development Plan (NDP) to improve and boost up the economic growth and job creation in South Africa in the next three years.

He said that the plans were under process to overcome the lack of skills and the unemployment rate in the country. Gordhan represented his medium term budget policy statement in Cape Town.

Further he also said that, R3.4 billion are already allocated by the government’s Job Fund to some 65 projects which are going to create 90,000 permanent jobs and around 100 000  training opportunities over the three years.

Along with this an employment incentive proposal has also been proposed to encourage and motivate the youth employment by sharing the costs of job creation in special economic zones and intended industries.

Gordhan said “A revised Employment Tax Incentive Bill will be formally introduced in the Parliament tomorrow to support the job creation in specific economic zones and for the youths.” This reveals the multi aspects approach of expanding and increasing work opportunities especially for youngsters expected in the National Youth Accord.

Few other projects which were proposed to contribute in the economic growth and job creation were under progress. The projects were along with tax incentives for industrial development projects costing R10-billion which are already approved over the past three years. These were expected to support investment amounting to R35-billion.