To jump-start the economic growth needed to create more employment we need to do something radically different. A DA national government would introduce a Jobs Act to serve as an economic stimulus shock.
The act will make special incentive offers open to foreign and domestic investors who meet a minimum employment threshold. In other words, a DA government will make doing business as easy as possible for companies that want to invest and create jobs in South Africa.
Our Jobs Act will provide the following for companies and individuals looking to either start new businesses or expand existing ones, and which create new jobs, including:
• The right to repatriate profits in the case of international investments. This is one of the biggest
barriers to attracting foreign investment that can create jobs and is a vital incentive our government
will offer.
• Relaxed foreign exchange controls for individuals/businesses willing to invest in the country to
provide assurances that they can access their funds as needed.
• Access to a specialised team of arbitrators, located in the Department of Trade and Industry
(DTI), who will assist medium-sized businesses in terms of the International Arbitration Act,
when necessary. This will assist medium-sized businesses who may find the cost associated with
arbitration prohibitive and will unlock the growth potential of the bill for these companies.
• A labour market flexibility exemption clause aimed at making the process to hire and fire employees
simpler and allowing potential employees to opt-out of the relevant sectoral minimum wage (which
would have a new minimum of no less that the old age grant) while still ensuring occupational
safety and the human rights of all employees are upheld.
Labour costs are one of the biggest inputs that businesses consider when investing, and this clause has the potential to unlock hundreds of thousands of jobs.
Tags: DA manifesto 2019, jobs act DA
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