LETTER: President must get behind Mboweni
Finance minister’s economic recovery strategy would support the creation of jobs and wealth
Why is it that most people who win large amounts of lottery money lose it over a few years and often land up worse off than before? It is because although they have become wealthy overnight, they have no understanding of the environment or ecosystem necessary to maintain and grow that wealth.
It reminds me of the economic “policies” of certain factions of the ANC, Cosatu, the SACP and EFF. Their solution, fed by a toxic mix of “white monopoly capital” rhetoric, outdated and failed socialist ideology and corruption, is to take from the ever-shrinking pot of wealth and distribute it among themselves, tossing some scraps to the poor. This is what has led to the current scenario where our country is on the verge of bankruptcy and a further Moody’s downgrade is on the cards.
Into this toxic mix finance minister Tito Mboweni has dropped his economic recovery strategy bombshell, which has been shot down by the usual suspects. Yet the proposals are in fact not radical or earth-shattering, and have been proposed before. They are sound measures that would support the creation of jobs and wealth. Any economies that successfully create jobs and wealth, for example the US and Germany (preferred destinations for millions of refugees) have similar measures in place.
President Cyril Ramaphosa, who helped the ANC achieve a comfortable majority in the last election and in a recent poll was shown to be our most popular politician by far, was voted in largely because South Africans believed he would kick-start the economy. Now he and his ANC supporters need to stop pandering to the failed politicians in their ranks and have the courage to get behind Mboweni. The World Economic Forum in Africa is an ideal opportunity to debate such necessary reforms.
Janet Mills, Cape Town
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