Madam Speaker

The South African economy has taken a pounding over the past 5 months in a way that should have been foreseen and could have been avoided. The impact of the dangerously low growth rate on all South Africans but in particular on the millions of unemployed South Africans is well documented and generally understood.

The DA wishes to state unequivocally that we will support and work with those that are serious and realistic about what action is required of the State to achieve the economic growth that is needed. There must be a climate to attract investment that is chased away by the current government policy uncertainty and over regulation.

We commend the Minister of Finance, Pravin Gordhan, for his clear commitment to encouraging economic development that was well displayed by his well justified foreign tour to do just this.

We hear the call to “arms” made by Minister Gordhan when he calls on all sectors of the South African society to work together to create the economic climate that will enable the creation of the jobs required for the 8 million and more unemployed. This is sadly not the case and as much as Minister Gordhan and National Treasury may know what is required we are still cruising towards an economic iceberg and economic disaster.

The DA expresses its disappointment that parliament has lost the competent services of Nhlanhla Nene to the private sector, but never-the-less, we wish him well in his new role.