Trevor Manuel voluntarily imposed the World Bank and IMF austerity programme called Gear on South Africa in the mid 1990s, followed by the joke called Asgissa, now we have the DA plagiarised NDP and a finance minister that wants to heap more hardship on the working class majority of our country through more austerity and belt tightening to ensure that it is cheaper for foreign multinationals to invest in South Africa. immediately after the good minister said it will not impact on the poor the minister of human settlements (housing) Lindiwe Sisulu announced that vast swathes of the population, namely the youth, will be excluded from government housing programs. It is the same youth who suffer massive unemployment under current policies. So the income of the general population will be reduced, including through regressive taxation. Thus demand will be further constrained to feed the socalled supply side. Why? Because our economy does not produce for South African consumers, who are also the workers who produce what we export. Our priority in the global neo-liberal set up is to produce cheap raw materials and minerals for foreign markets. Our destiny is to remain stuck in the rut of raw materials and minerals production and to remain the most unequal country on the planet given our current insane economic policies.
Posted on: Thu, 23 Oct 2014 09:32:39 +0000
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