DA backs Tito’s economic plan: ‘He mustn’t be intimidated by enemies of growth’

Image credit: Flickr/GovernmentZA

The Democratic Alliance (DA) has welcomed Finance Minister Tito Mboweni’s proposed economic recovery strategy.

Mboweni released the blueprint to the public on Tuesday and invited comments on it.

The plan aims at creating 1 million jobs and rebooting the economy to achieve growth rates of 2-3% in the immediate future.

Government should implement a series of growth reforms that promote economic transformation, support labour-intensive growth, and create a globally competitive economy.

Tito Mboweni’s economic strategy paper

It proposes other measures such as implementing a flexible industrial policy and promoting export competition.

‘Pro-growth and pro-jobs

On Wednesday, the DA’s shadow finance minister Geordin Hill-Lewis backed the strategy.

The proposed reforms are pro-growth and pro-jobs, and should be implemented as soon as possible.

Geordin Hill-Lewis

He added that Mboweni “must not be intimidated by the enemies of growth in his own party.”

Tito Mboweni’s proposals are sure to be opposed and undermined at every turn by the radical left of the ANC, a faction that is bent on ever-more state control over every aspect of the economy, to facilitate looting and to protect incumbents.

Geordin Hill-Lewis

The DA reiterated its call for privatisation and to allow local governments to take over the rail networks.

EFF to oppose plan

However, Economic Freedom Fighters (EFF) Deputy President Floyd Shivambu hinted that his party would oppose Mboweni’s strategy.

He referred to it as a neoliberal policy that unites DA and African National Congress (ANC).

It’s evident that the Neo-Liberal source of DA economic policy is the same one that prematurely drafted an economic recovery plan for @TreasuryRSA issued by the Minister for public comments.

The EFF will make substantial and cogent input into this policy that unites the DA & ANC.

Floyd Shivambu

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