Deputy Speaker, I am indeed very happy to confirm that the infrastructure programme will have a very important private sector component. But, having said that, I think it is important to note that the role that the public enterprises will play will be equally critical.
I wish that the hon member had been present at an investors' conference that was held on 19 October, and convened by the President. We had banks, suppliers of services, construction companies, and a range of players from the private sector there.
At the end of the day's proceedings they were enthusiastic and publicly endorsed the state's programme on infrastructure development. They saw opportunities for the private sector and small businesses, and stretched out a hand of partnership. Indeed, we signed a memorandum of understanding with the social partners, and we signed one with one of the large business organisations and one of the strategic integrated projects. We are already working in partnership with the private sector. Thank you.
Costs associated with downgrades in South Africa's sovereign credit ratings
345. Mr T D Harris (DA) asked the Minister of Finance:
Whether, with regard to the recent downgrades in South Africa's sovereign credit ratings by (a) Moody's and (b) Standard and Poor's ratings services, he has calculated the (i) direct cost to the fiscus in terms of increased borrowing costs related to the downgrades and (ii) indirect cost to the economy; if not, why not; if so, what are the estimated costs? NO3657E