Hon Speaker, unfortunately I couldn't even finish the elaborate answer. Another elaborate response is that microeconomic policy supports growth and investment but on its own, as I said in my response, cannot accelerate inclusive economic growth. Our National Development Plan contains a clear structural reform agenda and identifies a number of key microeconomic reforms that are required.
The need to reduce the cost of living for poor households and the cost of doing business is one of those key elements. Competition policy and our competition authorities have made significant progress in this area. This is reflected in the 2013-14 Global Competitiveness Report by the World Economic Forum, which ranked South Africa eighth in recent competition cases.
The first microeconomic reform is that Telkom was mandated to separate its electronic communications network and retail business. The second is the support for small, medium and micro enterprises and business start-ups to transform the economy, broaden the participation and create employment opportunities.
The third is a greener and more sustainable economy and a shift in the energy mix, away from the overreliance on coal. The fourth is the support for local production and employment and the development of industries through government and procurement processes. The fifth is the broadening and the strengthening of industrial development, and the list goes on. Those are but a few that I thought would be important to mention. Thank you.