We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
close notification
DA: Statement by Tim Harris, Democratic Alliance Shadow Minister of Finance, commenting that business confidence undermined as ANC leaders scramble for position (07/08/2012)
Business confidence has reportedly reached a twelve year low, undermined by policy confusion in the lead up to the ANC leadership battle at Mangaung.
The President's failure to lead a path through the ideological stand-offs in the economic ministries and in the tripartite alliance has worsened the policy paralysis and been the main driver behind plummeting business confidence.
This situation has been worsened by the fact that many senior ANC leaders appear hopelessly distracted by the party's forthcoming leadership election.
This uncertain business environment reflects a world where investment is compromised as businesses are unable to reliably plan for the future. Nowhere is this more apparent than the mishandling of the Youth Wage Subsidy that was announced by the President in the State of the Nation address two and a half years ago and budgeted for in the national budget, yet remains unimplemented.
The government's inability to implement the policy in the face of Cosatu's opposition undermines the executive and damages the reputation of government in the eyes of would be investors.
What is needed now is a government that speaks with one voice on the economy. Unlike the ANC's policy muddle, the DA’s plan for Jobs and Growth is a unified vision for the economy offered with one voice.
Photos
