EFF STATEMENT ON THE GOVERNMENT’S INCLUSIVE GROWTH ACTION PLAN
14 July, 2017
The Economic Freedom Fighters rejects the government’s inclusive growth plan pronounced by the Minister of Finance, Minister Malusi Gigaba today. The plan by the Minister is a clear indication that Zuma’s administration and the ANC have no full comprehension of the economic challenges facing South Africa. It is not a surprise that South Africa is in recession, downgraded to junk status and facing an unimaginable job loss crisis.
The purported ‘government’s inclusive growth action plan’ is nothing but a reaffirmation of Washington Consensus’ ten commandments to entrench neoliberalism. At the centre of the plan is a misguided notion that South Africa solution to poverty, unemployment and inequality is business led inclusive growth. And it is clear from the plan that the Minister’s priority is to get business confidence for business to drive the economic growth. However, it is the very same macroeconomic policy that has led to the crisis we face today.
In addition, the plan is a confirmation that former Minister Pravin Gordhan was not removed for policy matters or because he was protecting white monopoly capital. This is because the plan is a repetition of his plans and macroeconomic logic.
The EFF further notes that Gigaba's intention to fast track the process of privatisation of state-owned entities (SOEs) under the pretence of disposing of non-score assets. Beyond this being a process of privatization, it is fundamentally about the Zuma administration, like the apartheid government did in its dying days, engaging in a process of transfer of assets to a politically connected few for a fraction of these assets true value. That is why a 21-year-old Atul Gupta nephew ended up in a corrupt joint venture with Denel Asia. The state cannot lead industrialization without SOEs and it is for this reason that pervasive privatisation of taxpayers assets must be rejected.