Madam Deputy Speaker, the IFP carries in the Adjustments Appropriation Bill its misgivings about the Medium-Term Budget Policy Statement, MTBPS, as this Bill reflects the Medium-Term Budget Policy Statement's missed opportunities and lack of urgency.
The Bill should have been the tool to begin bringing about the required structural adjustments which we feel are necessary. This would have been the time to begin merging the many senior government institutions, providing essentially the same services to Small, Medium and Micro Enterprises, SMMEs, thereby avoiding committing R1,7 billion in the future for the Khula Direct when, effectively, the National Empowerment Fund can provide the same services, and all their agencies can be assembled in a matter of weeks or, perhaps, months, as commercial entities do when merged into a single entity.
This would be the time to shut down the commercially nonviable aero- manufacturing division of Denel, to avoid recapitalising something that continues to lose money. It would be the time to privatise South African Airways, SAA, SAA entities and older state-owned enterprises, SOEs, as an alternative to rising public debt, wherever it is possible.
It would be the time to transform the Land Bank into a specialised division of the Industrial Development Corporation, IDC, rather than recapitalising it with R1 billion, to perpetrate its 20 year management crises and corruption track record. It is really a matter, at this point, of putting good money after bad money, rather than providing it with the management it needs.
This would be the time to relook government-assisted economical sectors, which are not viable in the global market place, rather than increasing their subsidies, and focus it, as it had to be, on social services. Since 1994, South Africa has not undertaken a structural transformation of its parastatals and of government's industrial policies, with the end result that the pre-1994 mould is being kept alive, in fear that anything replacing it may be worse. More suggestions, as the Minister asked, will be coming by letters. Thank you very much. [Time expired.] [Applause.]