LETTER: Broke ANC a chance for new social contract
Private sector should off investment incentives for ruling party to roll back destructive policies
I read Ockert Doyer’s opinion piece with interest, because I believe now is the time to gently prod the ANC government in the right direction (“State sees the light on private sector’s role in healing economy”, September 19).
Up to now, the ANC, so full of hubris and arrogance, so puffed up with its own importance and taxpayers’ money, was incapable of understanding that its “policies” were destroying the economy. This is an easy mistake to make when one is completely incapacitated by outdated ideologies and incompetence. (Acknowledgments to Pravin Gordhan).
When they ran out of other people’s money, as socialists — even when they know what they are doing, which our revered leaders don’t — are wont to do.
Dilemma. The ANC cadre regime finally added two and two and got to five. They are pleite (German, meaning broke).
They have tried to remedy this by mooting prescribed assets, which was shot down so decisively even the ANC got the memo. They then turned to expropriation without compensation as their saviour but fell out with the EFF, thus depriving themselves of the two-thirds majority needed in parliament to push through this diabolical assault on private property rights.
Finally, SA Revenue Service commissioner Edward Kieswetter was briefed to really turn the screws on law-abiding taxpayers to release their elusive moolah.
As the almighty ANC has unfortunately destroyed the ability of the average taxpayer to generate a taxable income, with a judicious mix of heavy-handed business-killing regulations in response to Covid-19 and just being plain economically incapacitated, this path to salvation and more billions to waste has a short runway indeed.
Enter, stage left, Doyer’s suggestion. The private sector has about R3-trillion sitting on various balance sheets with no alternative home, as to invest in SA is a perilous venture (refer to expropriations).
My proposal is that the release by the private sector of its cash must be conditional on the ANC regime being forced, by way of chastity-belt (iron right) contracts, to walk back every economy-destroying piece of legislation ever passed (the labour laws, for example), and walk away from any such policies planned for the future (expropriation, national health insurance) forever.
To ensure that the criminally and morally bankrupt ANC sticks to its contractual obligations the money must be released in tranches per project, and all draw downs authorised by a committee of Big Business representatives.
As soon as the ANC tries any recidivist moves the money tap must be closed. Now that would be a proper social contract.
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