NUMSA outrage at budget policy statement

SA Finance minister, Nhlanhla Nene

SA Finance minister, Nhlanhla Nene

JOHANNESBURG – THE National Union of Metalworkers in South Africa (NUMSA) criticized the Medium Term Budget Policy Statement (MTBPS) Finance Minister, Nhlanhla Nene, has presented.

According to Castro Ngobese, the NUMSA General Secretary, the statement confirmed the African National Congress “long buried the Freedom Charter and is now happy to use the language of the failed GEAR policy now called the National Development Plan (NDP) as its guiding principles and programme, for national budgets.”

“Things like ‘sale of non-core assets’, which is a polite phrase for privatisation and the punting of Public Private Partnerships and concessioning of major projects to support private accumulation (e-tolls being an example), are back on the table.

“These developments, confirm the correctness of our analysis that neo-liberalism has strengthened its grip of South Africa, and that the working class has to organize through a United Front to resist it,” Ngobese said.

He said the MTBPS was self-contradictory.

“It recognizes the plight of the majority of South Africans but continues to rely on the same neoliberal GEAR/NDP medicine that has sustained pinning the working class and rural poor down into mass poverty, unemployment and rendered them victims of extreme inequalities.”

Ngobese said like Budget Frameworks before it, the MTBPS had failed to set appropriate and redistributive macroeconomic parameters within which the majority of the people of South Africa, who are the working class and rural poor, could have their lives changed for the better.

“The structure of South Africa’s economy and its ownership are colonial. The economy exports raw minerals and is de-industrializing, very fast.

“It is increasingly foreign-owned and so crucial decisions about things like the budget are not in the hands of South Africans. To change this, we have to seize ownership and control of our economy.”

– CAJ News





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Posted by on Oct 23 2014. Filed under Featured, Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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