Chairperson, firstly the ACDP wishes to commend the Minister, National Treasury and Sars on their exceptional work in managing the state finances. The Budget earlier this year was very broadly well received, and we, as opposition parties, sent a very positive message out on that, hon Minister, something which is very important.
The main thrust of this Budget Vote is about galvanising society behind a national effort to place the country on an investment-led growth path. This the ACDP clearly supports. We understand the need to stimulate economic growth in the short term to create more sustainable jobs. It is imperative, however, that if government wants real economic growth, it must create the environment to make South Africa more competitive, efficient and productive.
The National Development Plan, NDP, which all opposition parties support together with the majority party, proposes a social compact to reduce poverty and inequality and raise employment and investment. Many of us referred to sentiment before. It is all about investor sentiment. This National Development Plan is a significant positive step, and its alignment with the budget process is also positive. We have also seen very positive capital inflows into the country, and we need to bear that in mind.
When one speaks about the social compact, of great concern to us is the tremendous and significant weakening of the rand that we have seen today. The volatility of our currency - it is now at R9,51 - to what has that been attributed? It has been attributed to trade union brinkmanship.
We see the National Union of Mineworkers, NUM, has demanded a 60% wage increase in the mining industry. This is clearly an attempt to bolster dwindling membership numbers, which have been lost to their rival, the Association of Mineworkers and Construction Union, Amcu. It is important to bear in mind what the International Labour Organisation's South African director, Vic van Vuuren, said. He warned that forcing employers into steep and unaffordable wage settlements will not only curb the growth of companies but could also mean job losses that the economy does not need and cannot afford. This warning should be heeded, as we already see what is happening in the platinum sector, with 6 000 jobs set to be lost at Anglo American Platinum, Amplats.
We, as the ACDP, share the sentiments expressed by the Minister, where we appeal to all parties in the spirit of a social compact to reach agreements that will strike the correct balance between what meets the expectations of employees and what companies can afford. The country cannot afford damaging industrial action, whether legal, particularly the violent wildcat strikes that we saw last year, leading to the Marikana tragedy. Minister, we agree with you. We need concerted action; there is no room for complacency.
Balanced, fair, socially responsible choices must be made in the interest of the country as a whole. We are in this together. We will sink or swim together. Let us choose to swim together. The ACDP will support this Budget Vote. I thank you. [Applause.]