Scrap BEE to stimulate economy
THE government should seriously review Employment Equity and have it scrapped to stimulate the economy. BEE has served its purpose in the job market.
If one looks at all sectors of business, public and private, most employees are black, as it should be. Government departments and state-owned enterprises reflect a vast majority of black employees.
Unfortunately for some government departments and SOES, the BEE system has failed dismally, costing taxpayers billions. This is mainly due to cadre deployment and corruption.
It seems the job market is saturated and leaders need to come up with innovative ways to create jobs. I do not think radical economic transformation will work as only an elite minority will benefit.
If it does take place it will turn white monopoly capital into black monopoly capital. This could lead to thousands of more job losses.
One suggestion to turn the economy around would be for the government and trade unions to negotiate with business to allocate maybe 10% of after-tax profit to employees.
Business is all about making money and when employees have a stake it would have a dramatic effect in productivity, providing opportunities for expansion and creating more jobs.
Then we have the controversial land restitution issue. If land were occupied illegally, would the invaders pay the rates and taxes due, or rely on government bailouts like some of the SOES?
One way of resolving the land issue would be for large commercial farmers to donate 10% of their land to the workers and assist them with expertise in cultivation.
This would enable the farm workers to be self-sufficient, while the farmers would employ more farmhands, creating jobs.
VIJAY SEWTAHAL Clare Estate