DA blows the lid on populist plan by Minister Patel to destroy credit lending market
22 July 2020
Note to Editors: Please find attached a soundbite by by Dean Macpherson MP, DA Shadow Minister of Trade and Industry.
The Democratic Alliance (DA) has received a document drafted by the Department of Trade, Industry and Competition, marked "Confidential" which will have devastating consequences for the credit industry as well as consumers, which seeks to use the State of Disaster to expunge credit records.
While the idea behind this move may seem altruistic and noble, the truth is, Minister Ebrahim Patel is attempting to use populist rhetoric to clean up his battered public image and win over support within the ANC.
The intentions behind this "discussion document" could not be more sinister which will use the Disaster Management Act to subvert Parliamentary oversight and existing credit legislation.