Policy confusion, expropriation without compensation and economic instability will foil Minister Tito Mboweni’s good economic intentions. This is according to TLU SA, commenting on Mboweni’s release of the Treasury’s economic policy document on 27 August.
TLU SA is of the opinion that certain aspects of the plan are indeed beneficial to the country, especially Mboweni’s plans to improve productivity and increase exports. However, these plans are due to be executed under significantly unstable economic conditions that have been established by the ANC and its alliance partners.
The following aspects need to be urgently addressed if Mboweni’s recommendations can bear fruit: •The total policy variability and uncertainty constantly emanating from the tripartite alliance does not create the confidence among entrepreneurs and investors. This discourages them from becoming economically active and delivering the benefits outlined in Mboweni’s plans. In view of the fact that international role players have long since recognised and accepted the failure of socialism and communism, the ANC needs to unequivocally and publicly reject these failed ideologies.
•The ANC alliance needs to publicly reject the concept of expropriation without compensation and support the principle of private property ownership. Should the ANC persist in proceeding with expropriation without compensation, they will be facilitating and enabling the growing unemployment and levels of poverty experienced under their regime.
•Sustainable economic growth is possible only within a stable and crime-free environment. As a struggle movement, the ANC has fostered and encouraged a culture of entitlement and destruction rather than encouraging development and growth. The continuing violent riots during which mobs plunder and destroy, is a bed of the ANC’s own making and will destroy South Africa if left unchecked.
•The South African Communist Party millstone around the ANC’s neck prevents them from formulating policy that empowers the economy. In addition, by demanding unsustainable salary increases, Cosatu abuses workers for the union’s own political jockeying and benefit. The unions will urgently need to realise that wealth does not fall from the sky, but is created through economic activity. They will also need to realise that labour is increasingly being replaced by technology and mechanisation. The Fourth Industrial Revolution provides increased productivity at a lower cost. By becoming the major obstacle to efficient business operation through ongoing strike action, labour will effectively become irrelevant as businesses increasingly invest in new technologies.
•The ANC’s policy of BEE and affirmative action is resulting in the emigration of large numbers of skilled and economically active citizens due to a lack of opportunity. The government should be using the wealth of skills and expertise available here in this country, rather than appointing people based on race or gender.
It is clear that the ANC and its partners have become the greatest threat to the future of South Africa and its people.
TLU SA is thankful for Mboweni’s brave attempt to ignite economic growth. However, the organisation believes that the plan is doomed to failure unless the ANC and its alliance partners are called to order and urgently abandon their destructive policies that are a hindrance to economic growth.
Mr Bennie van Zyl, General Manager TLU SA,
Cell.: 082 466 4470
