Wtf is that 3 centuries of oppression, are we going to keep BEE till 2300 now?
EDIT: Also really happy I have broadcast to remove that whine.
EDIT2: Revealed true character, the entire PPE scandal. Equal economy, wtf is that, they're more bent on destroying it.
EDIT3: 9 mil vaccines purchase for johnson and johnson, only 80k next week, 500k over the next month. Nothing else about the other 8.5mil. Was a 2 jab thing I think, so 250k people over one month max. The rest has no dates attached to when vaccine.
EDIT4:
Saying used science based approach as was used till now, even though can't point to the science. More BS.
Thanks corporations for helping mass vaccine including medical aids, but no mention about medical aids probably going to pull out as there's no prioritization for them.
Now he's on about poverty again, and social injustice that was "legcay" and saying that pandemic made it worse. He's really playing to apartheid and Covid.
EDIT5:
Now saying all budgets before didn't work as had to defer stuff, RSA sharp decline growth and increase unemployment, Q3 economy was 6% smaller than it was in Q4 2019. 1.7m fewer employed Q3 vs Q1 2020. Unemployment stands at 30.8% (remember does not include people giving up, so utter BS figure). (Note said nothing about budgets that were deferred after saying happened).
They expect strong employment recovery by end of 2021.
EDIT6:
Social package given he's saying R500bn given/support/relief to people, businesses, etc. (note the numbers coming, not even close to R500bn)
18m people or 1/3 got additional grant payments through it. This lifted 5m above food poverty line. Nothing about it being temporary.
R57bn over 4.5m workers for TERS. More than R1.3bn support for SM enterprises. Over R70bn in tax relief for businesses in distress (most of the time those are temp/deferred rather than given away). R18bn in loans for 13k businesses for loan guarantee scheme.
EDIT7:
Plan:
- infrastructure
- local production
- employment stimulus for jobs
- rapid expansion of energy generation capacity
He said they announced infrastructure, that they need to rebuild tech skills in government to prepare and manage it. He said skills were lost over time, now developed infrastructure investment project/pipeline worth R340bn in water, energy, telecommunications. Construction started and progress made, since started made 2 new building projects for over 68k people. Similar human settlement projects are planned al over country (again nothing about it being government expense with no value added).
EDIT8:
Now saying need new cities away from apartheid planning (whatever the hell this means). Now he's bragging about Lanseria being first new city after apartheid. Draft master plan for smart city, will be 350k-1mil people housing, complete in Nov 2020, now out public comment. (Completely useless, don't need it, there's cities already that need to be sorted. What a waste of money). They're trying to sort out water, crocodile river and two others, those infrastructure investment plan need that and roads worth R19bn required. Work underway to find finance and structuring. Resources committed from fiscus to support construction for N1, N2, and N3 highways (guess fuel tax maybe worked?). That will lead to revival of construction and create jobs. The R100bn infrastructure fund will get finance private, lending from government. Approved pipeline for 2021, will include student housing infrastructure, aim to provide 300k student beds. Got SA connect, broadband to schools, hospitals, police stations and other government facilities (why not team with private?).
Second thing is local production, become global competitive, will get more investment. Says government, business and locals need to buy local. Yet nothing about how local is way more expensive. Brags about his suit being local, like we can all afford expensive suits. Almost as though he doesn't realize it's been attempted
Want to reduce import by 20%, multiple products like furniture, oil, steel products, etc. that all can be sourced locally, so SA gets more customs duties. Saying local will then start businesses and export it. No way that can happen with no power. Saying will bring in R200bn in output.
Wants to designate products to come from local only.
New framework identified 1k products that must come from local. Supposedly "robust" manufacturing programs are supporting it. That there are sector master plans. 4 "master plans" that have been signed and completed have had impact, e.g. poultry master plan, poultry industry was under stress, needed a "master plan" while saying nothing what it was. Supposedly R800m invested in it, SA produces extra 1m chickens (isn't this after drought?). Sugar plan, 80% must come from local, saw rise in local production, decline in imported (yet nothing about how much). Support for black small scale farmers with large company helping out, so not government again.
Since clothing, textile plan in Nov 2019, industry invested R500m to expand local facilities, auto sector got helped to weather pandemic, supposedly auto recovered 70% of annual. Ford R60bn (think m was meant?) manufacturing facility build for world export. Now saying it supports small medium black businesses that blacks have never gotten into (what BS is this, want stats).
Nearly half of construction for tschwane economic zone is expected to be allocated to SME (R1.7bn in procurement opportunities, nothing about value created/coming off government).
Toyota first hybrid vehicles. All this auto stuff him saying auto is expanding is obvious, why wouldn't they for one of the richest economies in africa.
Now implementing black industrial fund, again disadvantaging/ignoring whites.
Now he's talking about other African countries starting automakers, that they will rely on SA for components.
He's basically not said anything.
EDIT9:
Just said BEE must be made more extreme, no reversal on that policy. So that's just scared away more investment, and now he's saying investment conference is great as R108bn commitment, with previous it's R700bn+ out of R1.2tn for 5 years wanted, only R183bn has actually shown up so far. Note he's been president since 2018, so 3 years a total of R183bn is horrendous.
EDIT10:
Now he's like great, more businesses can be registered, nothing about the actual difficulty of operating it. IFP member is just shaking his head.
EDIT11:
He's stating private sector biggest creator of jobs, that's why massive reforms so private sector can invest. Nothing about reforms yet, just saying more conducive environment. Just "clear commitment to grow economy and create jobs", nothing on how. Now private is responsible for creating jobs. Now bragging about his 430k opportunities made by his stimulus package, 180k in recruitment process, in education, arts, film, culture, etc. so all not really creating value. He's just happy they are getting income, saying they're contributing to economy while not stating how it's being taken from economy to pay them rather than value creation. What BS again.
EDIT12:
He's saying symbiotic relationship between private and public, that private should be largest creator of jobs. So nothing mentioned about having to cut jobs to balance budgets, basically completely ignored it again, and happy about expanding it instead. Budget speech is going to be so fun.
And more youth program needing funding again.
EDIT13:
Now talking about energy sector, Eskom needs to be restored.
Says Eskom restructured in 3, yet we actually still haven't seen it.
Eskom supposedly making progress with maintenance, can see some MPs shaking heads. Government working with Eskom to manage debt and reduce dependence on fiscus, so tariffs will be looked at to be proper cost supposedly, with municipal debt looked at as well, so looking at even higher energy cost increase than has been said.
Saying they urgently been planning increase in power, now getting 2GW of power, and that law for municipalities private power buying is
11800MW to be procured using 2019 plan (the one that was said was bad). 4-6GW shortfall even with this plan over the next 5 years. Part of measure over coming weeks for request for proposal, 6200MW from wind and solar, and then Aug 2021 again. Nothing about how wind is 35% capacity factor nor solar ~40%.
Will amend schedule 2 of electricity act to increase power threshold for electricity generation over the next 2 months. Eskom started expedition to allow additional capacity to grid. Complaints that Eskom took too long previously, now they do faster (no guideline as to how much faster).
Climate change stuff. Will now affirm commitment to Paris agreement. Eskom has comitted to net zero emission by 2050 (that's way too late, that's literally all current coal fleets basically being end of life, hollow words).
New commission for climate change plan.
EDIT14:
Now saying need structural reform to increase competition, stimulate new investment to create space in market. New operation of african name, national treasury and presidents office, reform in electricity, water, telecommunications, transport, visa and immigration regime. So nothing then besides a money waste again.
