DA: Gordhan's growth target too low

Cape Town - Finance Minister Pravin Gordhan's stated aim of maintaining an economic growth rate of 2-3% showed a lack of ambition, the DA said on Wednesday.

Democratic Alliance finance spokesperson Tim Harris said South Africa should be targeting growth of 8% to create jobs and curtail poverty.

"This is in line with growth potential in other developing economies," Harris said.

"A growth rate of between 2 and 3% will not be enough to pull people out of poverty. It will only maintain the status quo.

"The ANC clearly does not have a plan to achieve faster growth."

Harris said the ruling party should liberalise the labour market and implement Gordhan's youth wage subsidy to create growth, investment and jobs, but instead seemed "intent on placing more shackles on growth".