Statement on the newly appointed Finance Minister
Yesterday, Thursday 10 December, the newly appointed Finance Minister Comrade David van Rooyen was sworn in. The change and appointment occurred at a crucial time facing our economy both from external factors such as in particular the ongoing international capitalist system crisis and the consequences of the lack of radical economic transformation in the first phase of our country’s democratic transition dating back to the 1990s.
Problems such as the decay – if not stopped – facing many of our state owned enterprises, the wave of de-industrialisation and capital flight including divestment that was facilitated by the 1996 class project’s economic strategy Growth, Employment and Redistribution (Gear) through liberalisation must still be addressed.
Our national assets and resources must be managed prudently and spending reprioritised. Former Finance Minister Comrade Nhlanhla Nene was doing good work in this regard. South Africa cannot afford any screws to loosen down this grip. The SACP is therefore looking forward to the new Finance Minister Comrade David van Rooyen maintaining and improving on this record.
Similarly, corruption must be dealt with decisively. There must be no capital leakage allowed from the national revenue and expenditure system and all projects must pass a prudential test.
It is in this context that it is extremely important to appreciate the challenges facing our economy: