ECONOMIC POLICY
Why increasing the size of the pie, not redistribution, is the way to go
The ANC’s stubborn approach to the economy lies at the heart of why the country’s growth is flatlining, writes Toby Chance
Commentators often say there is no substantive difference between ANC and DA policy, the only differentiator being the latter’s track record of better implementation. However, recent statements by two senior ANC officials on the economy expose the fallacy of this supposition. In an attempt to highlight what she stands for as a candidate at the ANC’s congress in December, Nkosazana Dlamini-Zuma gave insight into her manifesto on these pages (SA can overcome its obstacles if we work towards common goals, October 23). Finance Minister Malusi Gigaba, on the other hand, used the medium-term budget policy statement to try to placate South Africans and market watchers expecting relief from SA’s prolonged economic malaise. While delivering his budget speech, Gigaba referenced a quote from Oliver Tambo that illustrates how embedded the mantra of redistribution is in the ANC’s psyche: "The issues as to how the wealth of the country is redistributed for the benefit of all our people, how the e...
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