Do away with harmful policy, such as Affirmative Action (AA) and Black Economic Empowerment (BEE), and embrace a free-market system. Economic growth, progress and job creation are sure to follow for everyone in the country’s benefit.
The current ANC government policy has done nothing but promote patronage, to the detriment of the economy and the general population, which has been plunged into poverty. The only antidote to rising living costs, which is a given, is having a job with a steady income.
Last month, an authoritative opinion poll on spending habits indicated how millions of people in the country are struggling to survive with little or no income.
It indicated that South Africans with a monthly income of around R2 500 spend an average amount of R758 on food per month. People with an income of R60 000 per month spend, on average, R4 600 on food. This means that all income groups spend roughly 11% on food.
Another poll by a financial institution showed that 55% of South Africans are currently unable to save and that 31% are not saving for their retirement at all. Moreover, 11% of the population spends more than they earn each month. They survive on debt.
So, it comes as no surprise that thousands of people who do have a pension fund have already applied to make withdrawals from their retirement funds with the implementation of the new two-pot system. The Government Employee Pension Fund received 17 000 such applications in just one week.
This undeniably shows that South Africans are struggling financially. The Government of National Unity (GNU) is a ray of hope, but decisive action is needed to create more jobs. The country’s general unemployment rate has exceeded 44%. More than 64% of those aged between 15 and 24 is unemployed.
Each generation should indeed take responsibly for its own era. And that applies to everyone in the country, but especially to political decision-makers. The time has come to stop the decay. The turning point has been reached and it is time to rise from the ashes and write a true success story for this era.
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