Today's Big Stories

ANC to explore merits of wealth tax 'in relation to other policy measures'

The African National Congress (ANC) wants to explore the possibility of imposing a tax on South Africa's wealthy.

The matter was raised in debates at the party's National General Council (NGC) held in Gauteng at the weekend.

(Also read our article: Pay back the money, Rich People! – Thomas Piketty)

ANC economic commission chair Enoch Godongwana said they crafted this resolution very carefully.

According to Godongwana, the ANC will consider the wealth tax in relation to several other ways of financing measures that combat youth unemployment.

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:

A wealth tax would see wealthy individuals having to declare all their assets.

Last week, French economist Thomas Piketty proposed an annual, low-rate wealth tax and a minimum wage to start correcting inequality in South Africa.

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