Reply to State President Economic Stimulus Plan
Fellow Azanians, we know there is no free lunch in a capitalist economy. While excited by Grant’s for poor, aged, disabled and food parcels including money which will be given unemployment, the devil is in the details.
Firstly let’s be careful not to further in-debt future generations for many years and sell Country sovereignty, as someone will have to pay for these announced measures.
Secondly our country is the most unequal in the world with the rich far more rich than the poor in terms of income/wealth and measures announced today should not perpetuates that, as history can attest that such actions only widen same as the rich tend to benefit more or those in less need get more.
Thirdly COVID-19 much as it has been very bad, it could serve as economic leveler and Gov should have protected people not big business as small businesses is suffering because of lack of demand, due to oversupply by big business. If big business suffer, there is leveling of playing field and price of shares are lower for the poor to buy. Economic stimulus should not favor those who need the least at the expense of those who need the most.
What is the percentage of big business, those with a annual turnover of 100m & above, which have benefited from Government economic cushion because of Lockdown meant to curb spread of COVID-19, specifically those who qualifies for the TERS (Temporary Employer-Employee Relief Scheme) or UIF scheme? These big businesses have the ability, infrastructure and capacity to overcome bureaucratic red tape to access these economic benefits announced today.