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Mediclinic News : DA: RAMAPHOSA’S QUIET DIPLOMACY’ ON SARB IS ADDING TO SA’S ECONOMIC CRISIS

Title

DA: RAMAPHOSA’S QUIET DIPLOMACY’ ON SARB IS ADDING TO SA’S ECONOMIC CRISIS

Date

2019-06-06

Link

da-ramaphosas-quiet-diplomacy-on-sarb-is-adding-to-sas-economic-crisis-2019-06-06

News Description

The ANC is under pressure to offer the chairperson post of the standing committee on public accounts Scopa to the DA. Falling short of demanding that the governing party return the favour after the ANC was offered the post in the Western Cape legislature, the DA said the post should be given to the largest opposition party. The National Assembly's Scopa chair has in the past three terms been held by former MP Themba Godi from the small opposition party, African People's Convention. Speaking at a media briefing in Parliament yesterday, the DA chief whip John Steenhuisen said the ANC should do the right thing: "We are the largest opposition party. Tradition has it that Scopa chair should go to the largest opposition party." DA leader Mmusi Maimane said when it came to parliamentary accountability, "size" does matter. "I would urge that whatever back ground discussions are taking place, if the ANC is serious about account ability, this will be the route to go to ensure we can exercise appropriate accountability." The DA has fielded "excellent can didates" Alf Lees and Benedicta van Minnen to serve on Scopa, with Lees as their preferred candidate for the chairperson post. "Any government that is serious about transparency and accountability would, surely, want to submit itself to the best forms of oversight to ensure transparency and accountability," Steenhuisen added. ANC caucus spokesperson Nonceba Mhlauli said the governing party was finalising persons to serve on commit tees, including the chairpersons. "Once that process is finalised, an announcement will be made to that effect," Mhlauli said. On the portfolio spokespersons, Maimane said they had men and women who were diverse and came with different competencies. "What you can expect from this team is a team to put forward fresh ideas. We got to demonstrate to the people of this country that there are alternatives." He said his party would table an agenda for reform and pieces of legis lation that focus on city led economic growth, labour reform and reform of state owned entities. "We will certainly oppose the cur rent mining charter and threats to the economy and all matters like National Health Insurance that seek to hamstrung our fiscus." Maimane also said they would oppose the amendment of the Con stitution to allow expropriation of land without compensation. "Not only will it be dangerous for the economy, it will equally be danger ous for private property rights, which are crucial for South Africans to be able to advance their ability to own, pros per and create work for our citizens." Notable omissions from the shadow cabinet were MPs holding elected positions in the DA such as federal executive chairperson James Selfe, deputy chair of the party Mike Waters and federal executive deputy chairperson Thomas Walters. "There is work that must be done in Parliament, but there are certain members I want to focus on some work in the party and advance electoral objectives as we go to 2021." Back to top DA: RAMAPHOSA’S QUIET DIPLOMACY’ ON SARB IS ADDING TO SA’S ECONOMIC CRISIS 2019/06/06 Polity The ruling party’s policy schizophrenia on the South African Reserve Bank (SARB) has already cost the South African economy dearly, with the Rand losing almost 2% on Tuesday following the confusion. The silence from President Cyril Ramaphosa is deafening. It is time that President Ramaphosa publicly clarifies the ANC and his government’s position on the SARB. The President should stop ANC Secretary General Ace Magashule from ever speaking on the economy, and should publicly explain and clarify how the ANC’s National Executive Committee came to make the damaging statement that it did. This cannot be explained away as an innocent miscommunication. Both the Minister of Finance, Tito Mboweni, and the SARB Governor, Lesetja Kganyago, have come out in defence of the SARB’s mandate and ruled out "quantity easing", after Magashule announced on Tuesday that the NEC had decided to change the mandate of the SARB and that quantitative easing will be considered. However, investors are still not convinced. President Ramaphosa has not consistently protected the mandate and independence of the SARB, and has yet to quell the uncertainty created by the contradictory statements given by the ANC and Ministers. The South African economy is performing very poorly, having contracted by 3.2% in the first quarter of 2019. As confirmed by the International Monetary Fund, there is nothing wrong with our monetary policy, as overseen by the SARB. Our malady is bad policy in government, that is strangling growth in the economy. To get the economy working, we need to: Address the systemic problems at our State-owned Enterprises, specifically Eskom and SAA. The DA has a plan to stabilise and secure South Africa’s power supply, as detailed in our Cheaper Energy Bill which seeks to break Eskom into two separate entities and introduce a competitive energy market; Protect and support SMMEs as proposed in the DA’s Jobs Bill; and Oppose threats to the economy and fiscus such as NHI and expropriation of property and land without compensation. South Africa cannot afford the kind of reckless utterances coming from the ruling party as the consequent policy uncertainty will continue to compromise investment, economic growth and job creation. The independence and current mandate of the SARB must remain intact. The DA will use all mechanisms at our disposal to strongly oppose any attempts to change the SARB’s mandate or compromise its independence. Issued by The DA
Created at 2019/06/10 02:52 PM by Mediclinic
Last modified at 2019/06/10 02:52 PM by Mediclinic