National Assembly, Parliament
In a sea of uncertainty, in the midst of escalating unemployment underpinned by regressive economic growth and conflicting and inconsistent policy outlooks, South Africa is indeed in dire straits.
Ratings agencies have been categorical in their concern about the abnormal instability within the governing party and the negative impact of such instability on the economy.
Investment is stagnating with international and domestic corporate’s and private individuals adopting a “wait and see” attitude rather than one of investment in the country. We must create an appealing enabling climate and this begins with political stability and regulatory certainty.
The sad reality is that when the ruling party sneezes it is the poorest of the poor that catch the cold and South Africans bear the brutal brunt of ruling party instability every single day.
South Africa is indeed in dire straits.
How did we get here?
Our current situation is deeply rooted in ANCs continued failure to get it right.
- Gear collapsed!
- RDP collapsed!
- ASGISA collapsed!
- The 9 point plan turns out to be a one point plan!
- Radical Economic Transformation is an already tired populist refrain;
- Finance Ministers are whimsically reshuffled as soon as they fall out of political favour;
- Our economic sovereignty is being sold to highest bidder as we find ourselves punching way above our weight with our continued participation in BRICS.
- State Capture and corruption are a stark reality of which we are only just glimpsing the extent.
As we endeavour to push back the frontiers of white monopoly capital, the prevailing risk is the emergence of Chinese monopoly capital.
The widely accepted National Development Plan is almost a relic gathering dust in the backrooms of government owing to ever increasing lack of political will to implement.
Costs of communication remain exorbitant, amongst the highest in the world. This was just raised in the ICASA declarations a few agenda items ago. ICASA, honourable Chairperson must deal decisively with excessive out of data bundle rates, and with mobile operators who continue to charge South Africans excessive fees to communicate.
We will not succeed in creating tangible economic growth in South Africa unless and until we adopt a holistic view and address all of the above points as they are all necessary links in the chain of our future economic growth.
I thank you.
Hon Narend Singh, MP
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