Hon speaker, the Revised Fiscal Framework reaffirms to the nation that the countercyclical fiscal policy of the ANC-led government is the most appropriate policy to use to address the economic challenges we face. It is precisely this fiscal policy, adopted in advance of the international economic crisis, that has enabled the country economically to come through this period with relatively less uncertainty than most countries.
This approach in managing the fiscus has enabled us to maintain infrastructure spending, and drive the industrialisation of the economy, despite sluggish growth in the economy and relative inflationary pressure. This Revised Fiscal Framework therefore grounds itself in continued fiscal consolidation and support for the economy.
Furthermore, it recognises the risk of servicing debt costs and continues to establish the economic path of creating great debt sustainability. The ANC government is doing this as a policy position, and we have noted with concern that the political party with no logical economic policy, the DA, agrees with us. Let us be reminded ... [Interjections.] You are even worse, because at this stage you are going to the extreme of claiming our policies. You are not the creators of this idea; it belongs to the ANC.
On the contrary, the fact that you are calling for regulatory impact assessments confirms the ANC's long-held view that there are unnecessary administrative costs within our economy, and that this situation should be reviewed. This does not suggest, as some would want everyone to believe, that regulation of the economy should be relaxed. Again, on the contrary, in achieving the nature and character of the growth, we are seeking further strategic regulation of the economy by the state. This is necessary, given that we are a developmental state and we have a programme in the National Development Plan that must be achieved. This will not happen spontaneously; it has to be driven, and it has to be driven by us.
In conclusion, the ANC government continues to manage our economy in a manner that best addresses the current conjuncture. The ANC calls for the adoption of this report. Thank you. [Applause.]
Motion agreed to.
Report accordingly adopted.