The notion that there was no alignment between President Jacob Zuma’s emphasis on radical economic transformation and Finance Minister Pravin Gordhan’s budget incorrect‚ Science and Technology Minister Naledi Pandor said on Tuesday.
The minister was responding to criticisms that while Gordhan paid lip service to radical economic transformation there was little in his 2017/18 budget to underpin this.
Pandor‚ co-chair of the economic and employment cluster of ministers‚ was addressing a media briefing.
Whether it was land reform and redistribution‚ skills development and education‚ expanding the commercial base of agriculture or youth employment‚ the budget supported the key policy priorities outlined by Zuma in his State of the Nation Address‚ Pandor said.
Other policies supporting radical economic transformation‚ funded by the budget‚ were the ongoing implementation of the black industrialist programme‚ continued investment in strategic infrastructure projects and funding for small business development.
Pandor said that within the fiscal constraints it faced‚ the government was using its resources to support growth and boost business.
But the private sector needed to play its part in raising the rate of growth and ensuring greater levels of representativity of women and blacks in the higher echelons of management.
The partnership between the private sector and government needed to be strengthened to ensure radical economic empowerment‚ Pandor said. – TMG Digital/BusinessLIVE