• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Gordhan: Youth unemployment far too high

Oct 24 2013 16:20
Sapa

Cape Town - The employment tax incentive bill is a step towards reversing alarmingly high levels of youth unemployment, Finance Minister Pravin Gordhan said on Thursday.

Tabling the legislation in the National Assembly, along with three other money bills, he warned that South Africa had "some of the highest rates of unemployment" in the world.

"The incidence of unemployment is highest among young people. This means [they] are denied the opportunity to gain skills and experience that will enable them to build future careers."

About 94% of unemployed young people did not have further or tertiary education, and about 80% had never worked, or had been employed for longer than a year.

"These are alarming indicators," Gordhan told MPs.

The bill proposes a youth wage subsidy aimed at encouraging employers, through tax incentives, to take on young people aged from 18 to 29.

Gordhan on Thursday also tabled the merchant shipping (International Oil Pollution Compensation Fund) contributions bill, the taxation laws amendment bill, and the customs duty bill.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

pravin gordhan  |  youth wage subsidy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
18 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...