Economy

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UDM reacts on South Africa exiting recession with 2.5% of GDP Growth

STATEMENT ISSUED BY MR NQABAYOMZI KWANKWA – UDM DEPUTY PRESIDENT AND CHIEF WHIP The United Democratic Movement (UDM) welcomes the good news of South Africa’s exit from the recession. The poorest of the poor need a better performing economy to take them out of poverty, unemployment and inequality. We hope, corruption which compounds these triple challenges, will also be defeated and buried with urgency, so that this improved economic performance benefits the people; not the [...]

2017-09-05T14:13:18+00:00 September 5th, 2017|2017 Archive, Archives, Economy, Home, Issues, Media statements: UDM|Comments Off on UDM reacts on South Africa exiting recession with 2.5% of GDP Growth

UDM reaction on the alleged cracking down on political opponents in Lesotho

Statement issued by Mr Bantu Holomisa – UDM President The United Democratic Movement (UDM) is disturbed by the reports of alleged political intolerance in Lesotho. In this regard, we call on the Southern African Development Community (SADC), through its facilitator, the Deputy President of South Africa, Mr Cyril Ramaphosa to intervene with speed, and ensure political stability. We must do everything possible, and within our powers, to avert political instability that may result to loss [...]

2017-09-04T11:42:03+00:00 September 4th, 2017|2017 Archive, Archives, Economy, Home, Issues, Media statements: UDM|Comments Off on UDM reaction on the alleged cracking down on political opponents in Lesotho

ANC hypocrisy too thick to swallow; Molefe “re-redeployment”

If it was not for the serious implications of the ruling party deployment agency; one might be tempted to laugh at the situation around the reinstatement of Mr Brian Molefe as the Eskom Chief Executive (CE). Exasperated opinions by, or on, Mr Molefe, Public Enterprises Minister Lynne Browne, the ruling party and the Eskom Board falls from the sky like hail stones on a tin roof. According to the ruling party, Mr Molefe’s reinstatement “…is [...]

2017-05-12T17:47:31+00:00 May 12th, 2017|2017 Archive, Corruption and clean governance, Economy, Home, Media statements: UDM, Parastatals, Public Works|Comments Off on ANC hypocrisy too thick to swallow; Molefe “re-redeployment”

UDM writes to Chairperson of the Joint Standing Committee on Intelligence to request urgent meeting to quiz origins of the so-called Intelligence Report

Dear Mr Nqakula REQUEST FOR URGENT MEETING: JOINT STANDING COMMITTEE ON INTELLIGENCE The above matter refers. In my capacity as a member of the Parliamentary Joint Standing Committee on Intelligence, I request that you convene an urgent meeting of the Committee to consider the widely reported and circulated ‘Intelligence Report’ [the Report] that purportedly has been the central reason for the change of leadership in the National Treasury. In order for the Committee to be [...]

2017-06-13T15:04:51+00:00 April 4th, 2017|2017 Archive, Economy, Home, Intelligence, Open Letters, Zumagate|Comments Off on UDM writes to Chairperson of the Joint Standing Committee on Intelligence to request urgent meeting to quiz origins of the so-called Intelligence Report

Consideration of 2017 Fiscal Framework and Revenue Proposal and Report of Standing Committee on Finance – address by Mr ML Filtane, MP

Honourable Speaker and Honourable members The United Democratic Movement (UDM) supports the 2017 Fiscal Framework and Revenue Proposal and the Report of the Standing Committee on Finance. We appreciate that the Minister, as always, tried his best, notwithstanding the difficult circumstances occasioned by the bold call from the President for a budget that responds to the Radical Socio-Economic Transformation path as adopted by government. This was a very difficult expectation given the hard fact of [...]

2017-06-13T15:07:10+00:00 March 8th, 2017|2017 Archive, Economy, Home, Speeches|Comments Off on Consideration of 2017 Fiscal Framework and Revenue Proposal and Report of Standing Committee on Finance – address by Mr ML Filtane, MP

Competition Commission: Major banks must pay for any possible misdeeds

The United Democratic Movement (UDM) welcomes the findings of the Competition Commission regarding 17 major banks operating in South Africa accused of price fixing in international markets and manipulating the South African currency. The Competition Commission has been courageous in its fight against corruption, especially the private sector. Most of its findings have withstood scrutiny and we therefore believe that in this instance it has also done its work with precision. Once this is confirmed [...]

2017-06-13T15:07:44+00:00 February 16th, 2017|2017 Archive, Corruption and clean governance, Economy, Home, Media statements: UDM|Comments Off on Competition Commission: Major banks must pay for any possible misdeeds

President Zuma is considering a judicial inquiry into South African major banks in favour of the Gupta Family

The United Democratic Movement (UDM) is appalled to learn that President Zuma is considering establishing a judicial inquiry into the closure of the bank accounts of the Guptas’ Oakbay Investments. The President confirmed this after being asked the following straight-forward question during the oral question session in Parliament on 23 November 2016: “Mr. President, on the 2nd September 2016, you told the nation that the statement made by Minister Zwane was not representing presidency, cabinet [...]

2017-06-13T15:12:54+00:00 November 23rd, 2016|2016 Archive, Corruption and clean governance, Economy, Media statements: UDM, Zumagate|Comments Off on President Zuma is considering a judicial inquiry into South African major banks in favour of the Gupta Family

Pravin Gordhan to have his day in court

The United Democratic Movement has noted that Finance Minister Pravin Gordhan has been issued with a formal summons to appear in court in relation to the South African Revenue Services “rogue unit”. While we believe that no-one is above the law, this matter must be handled with the utmost care so that it does not have an adverse effect on the South African economy. We already heard that the rand tanked with 2.93% within minutes [...]

2017-03-09T16:15:28+00:00 October 11th, 2016|2016 Archive, Corruption and clean governance, Economy, Home, Media statements: UDM|Comments Off on Pravin Gordhan to have his day in court

UDM reacts on President Zuma’s answers to question on Gupta’s Role in the appointment of Ministers

Media Statement by UDM President Bantu Holomisa, MP This afternoon the President had an opportunity to take the country into his confidence and either confirm or deny the revelations made by the Deputy Minister of Finance, yesterday. Alas, he chose utter arrogance and maximum denialism in defense of his travelers, the Guptas family and his own. His attitude in dealing with this issues of national importance, confirms that once again, he has neglected the country [...]

2016-10-28T19:59:28+00:00 March 17th, 2016|2016 Archive, Corruption and clean governance, Economy, Home, Media statements: UDM, Zumagate|Comments Off on UDM reacts on President Zuma’s answers to question on Gupta’s Role in the appointment of Ministers

UDM reacts on Gupta’s offering Deputy Minister Jonas a position of Finance Minister

Media statement by UDM President Bantu Holomisa MP United Democratic Movement (UDM) welcomes the shocking confirmations made the Deputy Minister of Finance Mr. Mcebisi Jonas this afternoon. His bold decision demonstrate his commitment to his oath of office and confirms that at least within the ruling party there are some who puts South Africa and its citizens first. This behaviour by the Gupta family can only be best described as treason. Unfortunately, they have not [...]

2016-10-28T20:01:21+00:00 March 17th, 2016|2016 Archive, Corruption and clean governance, Economy, Home, Media statements: UDM|Comments Off on UDM reacts on Gupta’s offering Deputy Minister Jonas a position of Finance Minister

UDM calls for National Pension Fund Forum

Statement issued by UDM President – MP, Bantu Holomisa The furore on the Tax Laws Amendment Act and Tax Administration requires an action by all contributors. This is more urgent given that the Public Investment Corporation Fund is now targeted as the next stop for huge transactions to the ruling party and its big business friends. UDM calls for a National Pension Fund Forum which will amongst others, consider the following: • Monitoring of all [...]

2016-10-28T20:38:27+00:00 January 20th, 2016|2016 Archive, Economy, Home, Media statements: UDM|Comments Off on UDM calls for National Pension Fund Forum

2015 Budget Vote 31: Small Business Development – address by Mr ML Filtane, MP

Honourable Chairperson, Minister and Members The United Democratic Movement supports the budget. • Welcome the political shift for business rescue from big business into Small Medium and Micro Enterprises (SMME). This will help to remove the strain associated with the SMME sector so that it can be able to deliver on the expectations of the National Development Plan with regard to the creation of job opportunities. • Whilst we intensify the creation of small business, [...]

2016-10-28T21:59:38+00:00 May 21st, 2015|2015 Archive, Economy, Speeches|Comments Off on 2015 Budget Vote 31: Small Business Development – address by Mr ML Filtane, MP

Budget Vote 10: National Treasury

Chairperson, Honourable Minister and Deputy Minister, Honourable Members, Once more, Budget Vote 10 is delivered against the backdrop of severe economic challenges facing the world today. It takes place at a time when some economies around the world are making a slow economic recovery, while others are still in economic deepfreeze. We acknowledge that appropriate economic policy responses have been undertaken in order to place the country on a path to economic growth and prosperity. [...]

2016-10-26T08:39:16+00:00 July 21st, 2014|2014 Archive, Economy, Speeches|Comments Off on Budget Vote 10: National Treasury

The challenges facing South Africa as we approach the New Millennium

presented by Mr Bantu Holomisa, UDM Co-leader, at the South African Institute of Race Relations, Johannesburg In the letter of invitation which I received from the Institute of Race Relations, it is stated that the United Democratic Movement (UDM) is attracting much media attention. The UDM on the other hand feels that scant attention is paid to its activities by the media, so it is a matter of debate as to whether we enjoy any [...]

2016-10-26T08:39:39+00:00 December 10th, 1997|1997 Archive, Archives, Economy, Speeches|Comments Off on The challenges facing South Africa as we approach the New Millennium

Jobs summit: acclaim for breakthrough

statement by Bantu Holomisa and Roelf Meyer The UDM is extremely grateful for the agreement reached at Nedlac on the presidential jobs summit planned for the second quarter of 1998. We have taken note of the two phased approach towards the summit and the follow-up phase envisaged. Although proper planning is essential, it is a pity that this most desperate need of so many of our fellow South Africans took so long to receive the [...]

2014-08-21T13:27:19+00:00 December 1st, 1997|1997 Archive, Archives, Economy, Issues, Media statements: UDM|Comments Off on Jobs summit: acclaim for breakthrough