NEWS & ANALYSIS

ANC has plunged nation into fiscal crisis - Mosiuoa Lekota

COPE President says he warned in 2012, 2015 and 2017 about the danger of over-borrowing

ANC HAS PLUNGED THE NATION INTO A FISCAL CRISIS. 

Since 2012 my party Congress of the People and I have been urging the government to put the brakes on reckless borrowing. The Zuma led administration doubled the borrowing. Apart from numerous questions to several ministers of finance and many other interventions, I repeatedly warned about the calamitous situation we were getting ourselves into. I will hate to say that people in the government should have listened to me when it is too late and all of us will be in trouble.

In 2012, 2015 and again last year I kept warning about the danger of over-borrowing. I notice now that Peter Bruce is taking up the cudgels in the same regard. Will the government and South Africa listen to him? 

Whether it is on the land issue or in respect of state finances I want to see success, not poverty and failure. Some of those who are vigorously pursuing land expropriation without compensation are failing to take into account all of the complexities and ramifications. The end result they are looking for will disappoint because of a failure of thinking through all the steps. 

I am providing the links below to show that politicians should concern themselves with hard questions because that is what matters after all.

See here, here and here.

Statement issued by President of Congress of the People (COPE), Mosiuoa Lekota, 10 July 2018