Let’s withdraw our ‘minority capital’

ON THE subject of minority capital: after spending probably close to R100 million on conference expenses, including items such as Rupert and Rothschild red wine and Johnny Walker Blue Label whisky, deliberating on the issue of whether “white minority capital” or just plain “minority capital” is the reason for South Africa’s dwindling economy and the resulting high levels of unemployment and income disparities, the ANC could not reach a conclusion.

No doubt much of the “minority capital” includes the retirement savings of hundreds of thousands of hard-working South African citizens who realised that when they retired they would not be able to rely on the state for social services and health care.

Our state hospitals are dysfunctional as highlighted by the oncology services in KZN.

To enable the ANC to make a definitive ruling on this issue at its elective conference in December, it may help them to reach a conclusion if, during the six months leading up to the conference, all those bundled together as “white minority capital” were to withdraw their investments in the Republic of South Africa and transfer these funds overseas, where they will undoubtedly be considerably more welcome.

At the same time, those falling under the umbrella of “white minority capital” should also withhold the payment of the municipal rates and income taxes and we can see what the reaction would be.

This action should help focus the minds of the ANC leadership on what really is important to change the downward spiral in the economy.

We need competent leadership and management in all aspects of government, starting in municipalities.

Cadre deployment without proper job training can after more than 20 years be highlighted as the main reason for the collapse of government services.

AL NORMAN Howick