{"id":163451,"date":"2017-03-10T08:56:00","date_gmt":"2017-03-10T06:56:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=163451"},"modified":"2017-03-10T08:56:00","modified_gmt":"2017-03-10T06:56:00","slug":"the-new-economic-rights-that-everyone-should-be-talking-about-legal-expert","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/163451\/the-new-economic-rights-that-everyone-should-be-talking-about-legal-expert\/","title":{"rendered":"The new economic “rights” that everyone should be talking about: legal expert"},"content":{"rendered":"

In his recent Budget\u00a0speech<\/a>, Pravin Gordhan alluded to the possibility of a “charter of economic rights” to address intractable economic hardship\u00a0in South Africa.<\/p>\n

This is a concept that has been largely overlooked by commentators, despite having been\u00a0welcomed<\/a> by the ANC parliamentary caucus, says Pam Saxby of\u00a0Legalbrief<\/span><\/a><\/strong>.<\/p>\n

The topic was highlighted once again on Thursday (9 March), during the National Assembly debate on the fiscal framework, where Gordhan himself urged that a “serious conversation” take place on what will and won’t work in South Africa.<\/p>\n

“According to Gordhan\u2019s Budget speech, the charter would \u2018supplement\u2019 the Bill of Rights \u2013 binding the country\u2019s citizens to an economy that provides access to decent and well remunerated jobs; facilitates training and retraining \u2026 in the face of technological change; and creates a supportive environment for micro, small and medium businesses and co- operatives\u2019,” noted Saxby.<\/p>\n

This was expanded upon on Thursday by Gordhan to also include an end to\u00a0\u2018inter-generational poverty in South Africa and a consensus on how to grow and transform the economy’.<\/p>\n

“Economic transformation in South Africa should be directed at the vast majority \u2013 the working class and the poor,” Gordhan said.<\/p>\n

“It\u2019s nice to have millionaires and billionaires, but what about our own people who find themselves in despair. How do we address their concerns?”<\/p>\n

He also said that this\u00a0economic growth cuts both ways\u00a0– and in response to criticism about the low corporate tax rate, the minister\u00a0noted that someone in South Africa still has to make a profit.<\/p>\n

\u201cSouth Africa will not see private investment if government keeps on battering people. Someone must make a profit. There must be confidence in our policy environment and we must have national consensus that generates optimism in our country.\u201d<\/p>\n

Gordhan is expected to table the first draft of the new economic charter within the coming months.<\/p>\n

\n

Read:\u00a0Countries where the rand is stronger in 2017<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Minister Pravin Gordhan and legal experts have urged discussion around a new economic charter that will tie directly into South Africa’s Bill of Rights and fundamentally change economic rights under the Constitution.<\/p>\n","protected":false},"author":10,"featured_media":160347,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[25],"class_list":["post-163451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/163451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=163451"}],"version-history":[{"count":17,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/163451\/revisions"}],"predecessor-version":[{"id":163507,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/163451\/revisions\/163507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/160347"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=163451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=163451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=163451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}