Statement on the release of the National Treasury’s economic strategy

28 August 2019

The SACP has noted with serious concern, from our Alliance policy making point of view and primary mandating position in relation to deployed public representatives, the sudden release on Tuesday night, 27 August 2019, of the document entitled “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”.  The SACP will respond in detail both to the process that was followed by the Minister of Finance, Tito Mboweni, and substantively to the contents of the document. For the record, the SACP has consistently campaigned against neo-liberal policy regime measures. It is this economic policy regime that has plunged the world into economic crisis and our country into the undesirable economic situation it finds itself in today. The SACP will continue to challenge such measures, regardless of their make-up, and will not allow any form of neo-liberal opportunism whatsoever to exploit our country’s economic situation.

The Party will continue pushing a change in policy direction, in the interest of the working class and poor – the overwhelming majority of our people. The SACP will intensify its programme for the strengthening and adequate funding of the Industrial Policy Action Plan as well as the adoption of a comprehensive industrial policy, including a digital industrial strategy. The Party will deepen its financial sector transformation campaign, including measures to direct investment into the productive sectors of the economy to create decent work and radically reduce unemployment. The SACP has consistently campaigned for categorical measures aimed at radically reducing class inequalities and poverty, and will continue to strongly oppose any measures that have the effect of rolling back workers’ achievements. The Party will strengthen its efforts to ensure that public entities and public enterprises are revitalised and become successful.

The SACP will be holding an Augmented Central Committee meeting from 6 – 8 September 2019 in Johannesburg, and will deal with both the process and substance of the Tuesday night document comprehensively, taking into account the policy role of all government departments. In addition to the elected members of the Central Committee, SACP provincial secretaries and chairpersons, as well as the national secretary and chairperson of the Young Communist League of SA, the meeting will be attended by additional delegates representing the league and all SACP provinces and districts countrywide. The SACP will further take its perspectives to the next Alliance Political Council as well as to the National Alliance Summit to be convened after the Council.   

Issued by Alex Mohubetswane Mashilo, National Spokesperson & Head of Communications, SACP, 28 August 2019