MAIMANE SLAMS ANC
Recession is a home-grown problem, says DA
The ANC’s economic mismanagement and its bad policies are to blame for SA’s economic woes‚ DA leader Mmusi Maimane says. SA slid into a technical recession last week after two quarters of contraction. Responding to the contraction at a media briefing, Maimane criticised the ANC and said the recession was not a result of global economic conditions but was home-grown. The rising cost of living‚ as seen in petrol price increases‚ the VAT increase‚ the sugar tax and income tax, was money demanded by an inefficient‚ corrupt and captured state and was not spent on productive investment, he said. The DA believed scrapping the ANC’s economic policies‚ which it claimed were eroding investor confidence‚ such as the proposed nationalisation of the SA Reserve Bank and expropriation of land without compensation‚ could be among the interventions needed to get the economy growing.
The DA also wants the privatisation or part-privatisation of state-owned enterprises (SOEs) like SAA and the spl...