Gordhan: Cosatu will be consulted

Durban - Trade federation Cosatu's proposals on charting a new growth path for the South African economy will be taken into account, Finance Minister Pravin Gordhan said on Monday.

"We are a democratic organisation so we will take into account everybody's contribution, and that one important contribution we will take into account as the ANC has its discussions and as government has its discussions," he said on the sidelines of the ANC's national general council in Durban.

The treasury, headed by Gordhan, has come under criticism by Cosatu for clinging to old policies in a discussion document released after a recent meeting of its central executive committee.

Cosatu launched its growth path proposals at the University of Johannesburg. It suggests a wealth tax for the rich and the state playing a more aggressive role in the economy.
  
Gordhan said he agreed with President Jacob Zuma's comments on changing the way the economy worked.
  
"The president is saying we need to change the way our economy is working. We need to create more jobs, we need to reduce poverty, we need to increase South Africa's competitiveness... there are any number of opportunities available to us in the global economy and let's start talking as government but also as the private sector and the trade union movements about how can we work together to seize those opportunities," he said.
  
Reuters on Monday quoted Gordhan saying that corruption set the country back by millions of rands.

"It's a cancer. If you don't catch it early enough and if you don't tackle it early enough, it will become the end," he said.