Comments - SA Economy Quick Fix - Philip Copeman2024-03-29T12:07:20Zhttp://philipcopeman.ning.com/profiles/comment/feed?attachedTo=2353269%3ABlogPost%3A19402&xn_auth=noMaimane said, adding that dec…tag:philipcopeman.ning.com,2018-09-12:2353269:Comment:219032018-09-12T12:13:59.751ZPhilip Copemanhttp://philipcopeman.ning.com/profile/philipdc
<p>Maimane said, adding that decisive action needs to be taken. He listed seven actions that needed to be taken to get the situation back under control:</p>
<ol>
<li>Scrap reckless economic policies like the proposed nationalisation of the Reserve Bank and the undermining of property rights through expropriation without compensation.</li>
<li>Announce the privatisation, or part privatisation of SAA, and split Eskom into separate power production and distribution businesses.</li>
<li>End Eskom’s…</li>
</ol>
<p>Maimane said, adding that decisive action needs to be taken. He listed seven actions that needed to be taken to get the situation back under control:</p>
<ol>
<li>Scrap reckless economic policies like the proposed nationalisation of the Reserve Bank and the undermining of property rights through expropriation without compensation.</li>
<li>Announce the privatisation, or part privatisation of SAA, and split Eskom into separate power production and distribution businesses.</li>
<li>End Eskom’s monopoly and allow cities to purchase directly from independent power producers, increasing competition and lowering costs.</li>
<li>Introduce a fiscal austerity package to contain current spending and stabilise national debt at 50% of GDP. Commit to funding any further revenue shortfalls by cutting wasteful expenditure, not through new taxes.</li>
<li>Cut the size of the cabinet to around 15 ministries – from 35.</li>
<li>Exempt small businesses employing fewer than 250 employees from complying with restrictive labour legislation, other than the basic conditions of employment.</li>
<li>Immediately pay all outstanding invoices owed to small businesses from National and Provincial Governments, amounting to a fiscal stimulus for small businesses of R20.7 billion and R7.1 billion respectively.</li>
</ol>