The private sector has failed to decrease unemployment in South Africa over the last 20 years, the Economic Freedom Fighters said.
“The private sector has failed and was not able to deal with unemployment and inequality,” the EFF’s Floyd Shivambu said during a multi-party election debate at Unisa in Pretoria on Monday.
Shivambu reiterated the party’s intention of nationalising SA’s mines and banks as well as redistributing land to the landless. Shivambu also said that the party wanted to see changes to the tax structure for corporate companies.
“There is something scandalous about South Africa’s revenue sources… we are the number one producer of minerals in the world.”
“The mineral wealth of this country is worth $4.7-trillion (R50.6-trillion), but mines’ contribution to the national fiscus is only 20%. That can’t be right.”
The Democratic Alliance’s candidate for Gauteng premier, Mmusi Maimane, said that the country needed to create an environment that was conducive to investment and entrepreneurship. This would lay the groundwork for development and job creation he said.