Former FirstRand group chair Roger Jardine’s political start-up Change Starts Now (CSN) has unveiled a R500bn redevelopment plan to help grow SA’s struggling economy blighted by the Covid-19 pandemic, persistent power cuts, debilitating infrastructure and runaway unemployment.
The party, established in December, also proposes increases in wealth, corporate, and individual taxes in order to “bridge the gap between different sectors of society ensuring everyone has the opportunity to thrive”.
Launching the party’s election manifesto ahead of the 2024 general election at the Walter Sisulu Square in Kliptown, Soweto, on Monday, Jardine said central to the party’s strategy is the reconstruction and growth fund (ReGrow fund), which would be directed at immediate economic growth and employment, focusing heavily on infrastructure investment, in order to improve the living conditions of all South Africans “with the urgency this imperative demands”.
“This initiative suggests a transformative approach to mobilise significant resources — around R500bn — for economic revitalisation and social protection. Through a temporary, three-year reconstruction tax, Change Starts Now will create a fund dedicated to empowering individuals and communities while sparking job-driven economic growth,” said Jardine, who formed the political party in December 2023.
“We are like a country after war... Our national balance sheet is under excessive strain and our economic and social infrastructure is collapsing. Times of emergency cry out for emergency response.”
The political party, which was established in December, proposes a wealth tax of 1.5% each year for three years, a corporate tax increase of 4.2% (from 28% to 32.2%) for three years, an individual tax increase of 4.5% for three years for those earning more than R1.8m per annum, and a 1% annual charge on retirement funds for three years.
Economic opportunities
“By investing in social safety nets and economic opportunities, we will stimulate the economy and build a more just and equitable nation for all,” Jardine said.
The ReGrow fund would prioritise investments in human infrastructure, corporate support, micro-enterprise development, and targeted industry growth in the technology, tourism and energy sectors.
“This initiative represents a collective commitment to an integrated and inclusive future, where every South African can thrive.”
The CSN leader said when so much is broken, “it’s impossible to fix everything at once. Change Starts Now has identified certain key areas that are essential to dignity and opportunity, and where change can be felt quickly and have a multiplier effect.”
The political party wants to collaborate with business and other partners to create new jobs, especially for the youth; fix broken public and economic infrastructure including Eskom, Transnet, the Passenger Rail Agency of SA and the water network.
The start-up also wants to end public sector corruption and protect constitutional rights; encourage innovation, imagination and creativity in solving SA’s socioeconomic problems, restoring dignity and building unity and national pride.
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