For the umpteenth time, the ANC government has shown that it does not put the interests of South Africans and the future of the country first when it comes to decision-making.
This is the only conclusion one can draw after Parliament approved the Expropriation Act this week and sent it to the National Council of Provinces for final approval before it is signed into law by President Cyril Ramaphosa.
The Expropriation Act has a clause that provides for expropriation without compensation.
“It is shocking that with the country’s economic slump, unemployment and poverty there are still role players who make decisions that destroy investor confidence and who do everything in their power to not bring our economy to growth. The country’s history will judge these people," says Mr Bennie van Zyl, General Manager of TLU SA.
“This piece of legislation is extremely short-sighted. Who would invest in a country where the state arrogates such powers to itself? With an unemployment rate that is running away precisely because of the ANC’s transformation policy, it is an open question how the government sees the way forward in terms of investment confidence? This is always the starting point of economic growth. By the way, economic growth is the only way to solve the social-welfare reality that worsens every day.”
The principle of private property rights forms the basis of wealth creation and must be protected at all costs. The path the government is taking has only caused poverty and much sadness worldwide.
“We are clearly not on the right path to grow our country economically. The government of the country is stealing every young person’s future.”
The government is supposed to create the climate and environment for entrepreneurs to want to do business and invest in the country.
“But now the ANC has shown again that it only continues with what is good for it as a party and not what is in the interest of the country and its residents. It is clear to everyone – apart from the ANC – that expropriation without compensation condemns economic progress in all its facets.”
Issued by: TLU SA
Date: 27 September 2022