Thank you, Minister. The IFP suggests that the MIDP be extended to 2020 with the condition that the car industry must be encouraged to gradually increase the use of South-African-made cars and components to over 85% by the year 2020. It is the only way to ensure that the motor industry is sustainable and competitive.
In 2005, the Minister of Finance, in response to arising questions, stated that Import Rebate Credit Certificates, IRCCs, were issued to the motor industry in 2003 to the value of more than R23 billion and more than R22 billion in 2004. Based on this, we estimate that IRCCs amounting to at least R100 million were issued to the motor industry for the period 2000- 06.
My question to you, Minister is: Have you ever started to see during these periods how many components in the factories were established from 2007 to 2012? I want to pose the same question to you. How many companies and factories will be built between 2012 and 2020? How many companies is the manufacturer going to establish?
Minister, do you agree with that?
Some motor manufacturers import the cars from their mother companies, which are in other countries. And it is easy for them to sweep the profits back to the countries they come from. It doesn't benefit our country. The prices in our countries were benefited. We are the highest in the car market at the moment. Thank you.