In Thursday’s State of the Nation Address — which observers have criticised as long on vision and short on steps to implement it — one thing was clear: A ‘reimagined’ industrial strategy will be a key part of President Cyril Ramaphosa’s efforts to ignite economic growth.
“We’ve got great policies and they were breached significantly when the train procurement was done,” Patel said. “If we can remove the mismatch [between policy and implementation]… if we just begin to get that right, already it marks a revolution in the state.” “An important observation that was made in Sona is not only that industrial strategy is at the centre of our thinking about strengthening economic performance, but that we want to build on our own experience,” Patel said.
But critics of these policies have in the past argued that this amounts to corporate welfare, and comes at a significant cost to the fiscus. According to the 2019 budget review, the tax foregone on various automotive support programmes amounted to almost R100-billion between the 2013/14 and 2016/17 financial years.
“The bulk of sectors industrial policy is aimed at are private sector driven — whether its plastics or chemicals or clothing or steel.”
Over the years, what impact has this ministry had over the economy?
Um his last three plans caused this! Please take the remote controller away.
Patel has been in charge of economic development for years. There has benn no economic development in that time. To believe the man who oversaw the the decline can be the one to oversee the revival is ludicrous! It’s obvious he hasn’t got the capability!
This communist will lead us further into the 💩hole!! Venezuela here we come
...this idiot Ebrahim Patel has been 'trying' to 'develop' SA's economy - as Minister of Economic Development - for the past 10 years. He is one of the useless ANC clowns directly and personally responsible for SA's shrinking economy and the end of foreign investment. FireHim!
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