Landmark economic decisions will benefit consumers
HOW ironic is it to read Finance Minister Pravin Gordhan’s words with reference to the possible appointment of a European to the International Monetary Fund.
He talks about “democracy, transparency and good governance” in choosing the IMF managing director. Trevor Manuel himself stated that only merit should be taken into consideration for the appointment.
Why then do these ANC members continue to promote BBBEE (broad-based black economic empowerment) to the detriment of hundreds of white and Indian youths?
M SOUTHGATE TWO significant decisions made last week have significant impact on the lives of the people of our country.
First, the government’s decision not to bid for the 2020 Olympics was based on its strategy to prioritise key areas that focus on job creation and service delivery.
Second, the Competition Tribunal’s approval of the R16.5 billion deal with conditions of Walmart’s purchase of 51 percent of Massmart will benefit consumers through lower prices, new promotions, wider choices, an injection of over R1bn into the economy in the next few years and the promise of a R100 million fund to support local suppliers.
There were some misgivings in the labour sector regarding job losses.
However, SA functions in a global economy and is committed to international trade agreements. The local market cannot forever be protected from international competition.
The above events are most welcome in the public interest, and the benefits that accrue will be evident in time.