POLITICAL ECONOMY
New Deal a mirage unless president sells an enterprise-friendly strategy
In November 2017 Cyril Ramaphosa, then deputy president, borrowed the evocative language of Franklin D Roosevelt in calling for a New Deal for SA. His 10-point plan focused on rolling back corruption and state capture, the creation of policy certainty and building investor confidence in the service of jobs and growth. He saw inclusion and transformation for workers, communities and entrepreneurs as central to the new approach and called for macroeconomic policy that secures the country’s economic sovereignty through growth. In reference to the challenge of improving the quality of education, he said "unions must refuse to defend those who stand in the way of the education of the children of the working class". Land reform was not one of his 10 points; it was mentioned only as a key part of the objective to pursue meaningful economic participation for the poor and marginalised. His approach to the private sector departed from the ANC’s previous attacks on "white monopoly capital". He...
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