DLC says that a complete overhaul of SA economic policies are needed to restore economic prosperity and instill investor confidence.
Fraud and corruption have destroyed our once vibrant economy. The South African economy has been downgraded because of some greedy officials and politicians. South Africa need to provide an economic springboard that would steer the country out of its current economic slump and restore investor confidence.
SMME’s are the key drivers for economic development. Government needs to cut the “red tape” and craft legislation that will make it simple, within the scope of the various administrative controls, for SMME’s to source financial aid and guidance. National Government needs to pass legislations that will direct Municipalities to review its bylaws in terms of SMME’s which will allow for economic growth. Promoting entrepreneurship within SMME’s are key to alleviating unemployment.
With the unemployment rate consistently rising, more people are resorting to starting their own businesses. Street trading, mini markets, spaza shops and other small businesses have become the way of life for the survival of the indigent. Providing the necessary skills and tools for entrepreneurship is an effective mechanism to develop any economy. People must be encouraged to pursue home based “Nano-enterprises’ industries.
The DLC sees cooperatives as an avenue to expand on entrepreneurship, skills development and community empowerment. Support in the form of financial/ grant in aid and technical assistance and training must be given to cooperatives. Cooperatives must be screened and its members verified, before any contracts are assigned to them. This will avoid any person within the cooperative to be the sole beneficiary of its income.
PEOPLE WITH DISABILITY: People with disabilities must be incorporated into the political, economic and social sectors. Whilst there are provisions within the Labour Relations Act and various other legislations, Government and the private sectors are not effectively implementing the provisions and rights of people with disabilities. The various sectors must be closely monitored to ensure that these people are not discriminated because of their disabilities.
Business investor confidence decreased to its lowest this year after the ruling party announced land expropriation without compensation.
To restore investor confidence the state needs to provide a conducive environment for business investments in Provinces and Cities. Incentivizing business opportunities in Urban, Peri Urban and rural areas are mechanisms that will attract investors in droves.
The RAF Fuel Levy is currently at 193 cents per litre for the 2018/19 financial year. Government must revise the increase in fuel levy as this impacts on the poorest of the poor, whom rely solely on public transport. Commuters are already under heavy financial strain and any further increases will be detrimental to their pockets. The rising cost of fuel is primarily based on the high percentage that goes towards the fuel levy. Billions of rands raised through the fuel levy is not spent effectively. Administrative and transparent accountability is needed to monitor whether the funds are effectively and efficiently utilized.