CAROL PATON: Another ANC policy debate comes full circle
The public and private sectors have a similar solution to SA’s problems, but they disagree on how to pay for it
The ANC’s economic transformation committee, which generally takes a more considered and prudent approach to economic policy than the wider leadership, has tried in its latest discussion paper to head off the demand for prescribed assets from more populist quarters with a decoy: regulation 28 of the Pensions Fund Act.
Unfortunately, the decoy is not real and sooner or later will have to be exposed as such. The discussion paper released last Friday is the ANC’s proposal for economic revival. Its cornerstone — like the paper released by Business for SA on the same day — is an infrastructure programme, which would have a stimulatory and catalytic impact on the economy. It is encouraging that they have come up with similar solutions independently of each other...