Democratic Alliance (DA) leader John Steenhuisen on Monday unveiled an ambitious six-point economic recovery plan, calling for the scrapping of Black Economic Empowerment (BBBEE) and employment equity policies which he says are “holding the economy back.”
by Novus Media in Business, News on
Democratic Alliance (DA) leader John Steenhuisen on Monday unveiled an ambitious six-point economic recovery plan, calling for the scrapping of Black Economic Empowerment (BBBEE) and employment equity policies which he says are “holding the economy back.”
Speaking in Johannesburg – which he described as “the economic heart of our nation” – Steenhuisen painted a stark picture of South Africa’s economic decline, citing unemployment rates of nearly 33% and a 10% shrinkage in GDP per capita over the past 15 years.
“Our economy is in the ICU,” Steenhuisen told media and supporters. “Over the last 15 years, GDP per capita has shrunk by 10%. Add discouraged job seekers, and the real unemployment rate is over 43%.”
Key policy proposals
The DA’s plan targets what Steenhuisen termed “three major roadblocks” – BBBEE, employment equity, and the Expropriation Act – which he claims deter investment and job creation.
“BBBEE and racial quotas have failed, and together with expropriation without compensation, create an environment that deters investment, growth and job creation for the majority of South Africans,” he said.
The party’s comprehensive economic plan includes:
1. Scrapping BBBEE and Employment Equity: Replace with “policies that create opportunity based on need and merit, not race or connection.”
2. Energy Reform: Break Eskom’s monopoly by creating a competitive energy market and ringfencing municipal electricity revenue.
3. Infrastructure Overhaul: Concession freight rail and port terminals, ending what he called “Transnet’s stranglehold.”
4. Public Spending Reform: End bailouts to state-owned entities, which have cost R310 billion, and cut government waste.
5. Local Government Fix: Introduce legislation setting minimum thresholds for political parties to get council seats and welcome private sector participation in struggling municipalities.
6. Rule of Law restoration: Establish a new Anti-Corruption Commission – “Scorpions 2.0” – and implement lifestyle audits for senior police officials.
