Deputy Speaker, I want to refer to the statement made by hon Oriani-Ambrosini, and start off by saying that he is quite right that the overvalued currency we have in South Africa is, in fact, having a very negative impact on jobs and manufacturing development. That is correct.
I also think on the issue he raised about the Reserve Bank policy, that the Reserve Bank, by its constitution, is enjoined to take its own decisions and to act independently.
The issue of the overvalued currency is a complicated matter and it arises not from anything of our own doing. It arises from the instability in the global economy and from the release of large funds in the United States in particular, the so-called "carry trade", which is artificially boosting currencies. Reserve banks in many other countries have tried alternative policies, including capital controls, and they have not had the desired effect. It is very important that we are clear that an overvalued currency does have negative consequences for productive sectors and industrial development.
On the statement made by hon Tozamile Botha, it is important to say that the manifesto that this government was elected on, the electoral manifesto, draws from the resolutions made at the Polokwane conference, which remains the basis of the policies of this government. Thank you very much. [Applause.]