The DA’s Economic Recovery Plan

In order to avoid economic collapse and bring about rapid growth in South Africa, a clear and concrete plan for is required.

The DA is currently in the process of expanding our “Economic Recovery Plan” – a comprehensive package of reform interventions that are unashamedly pro-growth, pro-investment, and pro-job creation.

The focus of this “Economic Recovery Plan” is on deliberate structural reform that will act as shock to our economy, in order to revive it and usher in rapid economic growth. The plan will include the following proposals, among others:

  1. Splitting Eskom into two separate entities while allowing IPPs to come on board by passing the Independent Electricity Management (IEMA) Bill;
  2. Passing our “Jobs Bill”, consisting of a wide range of incentives for foreign companies to invest in SA – bringing thousands of job opportunities to our shores.
  3. Implementing a government-wide Comprehensive Spending Review aimed at reviewing the efficiency of spending, the composition of spending, and future spending priorities in order to “tighten our belts”;
  4. Placing SAA under business rescue with a view to sell it off;
  5. Scrapping BEE and replacing it with a pro-growth plan that offers real broad-based inclusion in our economy;
  6. Beginning the rollout of a Voluntary Civil Service Year for young people;
  7. Introducing tax incentives for big job-creating sectors including manufacturing, tourism, mining and financial services;
  8. Rejecting investment-killing policies including the National Health Insurance (NHI), Expropriation Without Compensation (EWC), the National Minimum Wage (NMW) and the nationalisation of the South African Reserve Bank (SARB);
  9. Cutting the Public Sector Wage Bill; and
  10. Creating an enabling environment for job creation by freeing up micro enterprise and relaxing labour legislation.

In addition, provinces in which persistent drought continues to affect the agricultural sector must declare such as a provincial disaster. One such province in the Northern Cape, where over 60 000 jobs are on the line due to 5-year long drought.

This plan and the details thereof will be tabled early next month during Parliament’s urgent debate of national importance on the economy, which I requested in light of our current economic crisis.

In order to halt our economy’s spiralling decline and create opportunities for those left outside the economy, we need bold and urgent reform. This is the DA’s plan, and we intend to pursue it with intensity.

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