Social compact By Jessie Taylor
Working towards developing a social compact
P
resident Cyril Ramaphosa has vowed to continue work on social compact initiatives to reduce unemployment and drive economic growth meaningfully. During his State of the Nation Address (SONA) in February, President Ramaphsoa said the government had spent a year working towards forging a comprehensive social compact that would join all social partners in a common programme to rebuild our economy and enable higher economic growth.
including social parTners for economic soluTions Over the last year, the government has been working with social partners to finalise a comprehensive social compact to grow the economy, create jobs and combat hunger. This has seen a team led by the ministers of Employment and Labour, Trade, Industry and Competition, and Finance meeting with social partners to map out the priorities that must be reflected in the new social compact. A framework for a social compact is under development and will identify priority actions to achieve
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We have seen the benefits of this approach to promote investment and to develop master plans in sectors of the economy
higher levels of investment and growth, increase employment, unleash the dynamism of the private sector, protect the rights of workers, expand support for the unemployed and tackle extreme poverty, said President Ramaphosa.
