Madam Deputy Speaker, the IFP wants to reiterate its support for the Diamond Levy Bills before us.
As the hon Chairperson has said, the proposed Diamond Levy Bills of 2007 reduces the export levy on rough diamonds to 5%. It replaces the current 15% export levy as provided for in the Diamond Act of 1996.
The aim of the levy under the current Bills is not intended to generate revenue but rather to encourage the supply of rough diamonds to the local polishing and cutting industries.
The beneficiation of rough diamonds is seen as important to encourage local economic development, skills and employment creation. The IFP sincerely trusts that this will indeed happen.
Furthermore, the Bills are in line with the spirit of the previous amendments made to the Diamond Act in 2005 and the Diamond Second Amendment Act 30 of 2005.
For these reasons the IFP has no grounds to object to the passing of these Bills.
With tongue in cheek, and also maybe playing devils advocate, I heard that the De Beers and others didn't object about the taxation aspects. I also think that it was better that they don't do so, because apparently they've taken out almost a truckload of diamonds out of this country and I don't know whether the appropriated levies had been paid at that stage. I'm talking about prior 1994 and in terms of this it would be perhaps prudent for them to stay a bit out of the limelight in terms of this particular Act and also support the Bills. I thank you, Madam Speaker. [Applause.]