House Chair, the EFF emphatically reject the Revised Fiscal Framework introduced by the Minister of Finance during the Medium- Term Budget Policy Statement, MTBPS. The fundamental reason is that as part of the MTBPS, the Minister announced the neoliberal, orthodox and outrightly reactionary economic recovery strategy as the current economic plan for South Africa.
When the Minister of Finance was responding to parliamentary questions, he said that National Treasury received more than 800 inputs into the neoliberal drivel he calls an economic recovery plan. The Minister further said that the only submissions the National Treasury will accept are those that are consistent with the essence of the neoliberalism of the perspective.
It is on that basis that the EFF chose not to partake in legitimating what we believe to be the most dangerous,
so-called recovery plans, representing nauseating levels of capitalist greed and gluttony.
The white capitalist establishment in South Africa are forming an alliance to devour and finish off the little economic control that the state has in South Africa.
Part of that neoliberal and reactionary plan includes the gradual privatisation of Eskom.
Part of that neoliberal and reactionary plan includes the Privatisation of water provision.
Part of that neoliberal and reactionary plan includes Privatisation of irrigation services.
Part of that neoliberal and reactionary plan does not say anything about the fourth industrial revolution, and how such will change the nature, content and form of work. Part of that neoliberal and reactionary plan will not do anything to break the communications duopoly, where only two major companies are dominant.
We, as the EFF, stand opposed to neoliberalism and will never associate with the neoliberal drivel which will only serve to weaken and destabilise the state.
Now, we have decided to forge ahead with the real economic transformation agenda that has been embraced by all progressive forces in all political parties.
The EFF has reintroduced the South African Reserve Bank Amendment Bill, which will remove all private shareholders from the private Bank. The EFF calls on members of the public to make inputs into the Bill, so that South Africa joins more than 90% of central banks in the world that are publicly owned.
The EFF will also table a comprehensive State Bank Bill, which will culminate in the creation of a state-owned bank. The EFF will table a Sovereign Wealth Fund Bill, which will lead to the creation of a sovereign wealth fund. The EFF will re-introduce the Insourcing of Government Workers Bill, so that we begin to build state capacity and not rely on external consultants. [Applause.]
We are doing all of this because we have come to the correct conclusion that the ANC is dismally failing to manage and give direction to the economy. This is evidenced by rising poverty levels, crisis levels of unemployment, and a huge debt to GDP ratio. The Ministry of Finance is a true disciple of neoliberalism and they will worsen South Africa
The ruling party is full of cowards who are unable to caution their deployees when he exceptionally defies the resolution and act like a paragon of economic correctness. The EFF is not a party of cowards. We stand to categorically, emphatically and decisively reject the capitalist pamphlet that was presented here as MTBPS. Down with neoliberalism and its disciples in the National Treasury, down! [Applause.]