SA’s labour-union federation rejects Treasury growth plan

Says the strategy appears ‘incoherent, confused and unreliable’.
Finance minister Tito Mboweni this week announced a grand plan to address South Africa's lagging economy, which unions are not happy with. Picture: Moneyweb

South Africa’s main labour-union federation rejected a plan by the nation’s Treasury to revive economic growth.

Finance minister Tito Mboweni this week proposed a range of measures to pull the economy out of its longest downward cycle since the Second World War. Mboweni’s plan envisions the state relinquishing its near monopoly of electricity, port and rail services, relaxing rules to make it easier to do business and privatising assets to stabilise its finances.

Read: SA sees selling coal plants and visa reform boosting GDP

Eskom could sell some coal-powered plants to raise R450bn

“This Draft Recovery Strategy makes the government appear incoherent, confused and unreliable,” the union said in a statement handed to reporters in Johannesburg. “We reject this particular paper and demand that National Treasury withdraws this document immediately.”

Read: Less ambition is a good thing in South Africa’s economic plan

© 2019 Bloomberg L.P.

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The only “incoherent, confused and unreliable” morons here, are the trade unions…

This country is doomed..Take your money and run…

As mentioned in another post, SA can either choose to have a vibrant economy OR the ANC, not both. I doubt the majority of voters even know what they are voting for as they probably haven’t a clue what the difference is between communism, Marxism, socialism and capitalism. The communist party needs to grow a pair and stand as their own party and tell voters exactly what they stand for. We cannot change direction as a country when the communists and Labour unions call the shots. Until this changes, the downward spiral is inevitable.

The socialist: “We demand your contribution to our cause”.
The capitalist: “I suggest you accept my contribution to our mutual benefit”.

End of comments.

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