Dear Editor
The DA welcomes the South African Reserve Bank’s decision to lower interest rates. A necessary reprieve for households who continue to suffer under enormous financial stress and deserve any relief offered.
While this short-term relief is welcome, it cannot be a substitute for long-term reforms that are beyond the ambit of the Reserve Bank. To create a better economic environment, we must:
- Improve the efficiency of government spending so that we can offer people better services without raising taxes.
- Crowd in the private sector, whether through infrastructure investment or through port and rail concessions.
- Address red tape and regulation constraints that stop many investments before they’re started.
The DA will continue to work towards these reforms and push for their rapid implementation. This is the only way to achieve sustained economic growth, investor confidence and better household finances.
South Africans deserve to receive good economic news more often. They also deserve an economy that works for all of us. The DA is committed to making sure both happen.
Regards
Dr Mark Burke MP
DA Spokesperson on Finance