Loading...
See More

Cosatu: Nationalisation is a given

Aug 04 2011 13:56 Sapa

Related Articles

Mines grab to decimate SA equity market

Ackerman speaks out on nationalisation

Shabangu: Nationalisation talk bad for SA

Sacci: Let's debate nationalisation

Sacci: Mines grab talk deters investors

Gigaba: We're aware of mines grab harm

 
Johannesburg - Nationalisation is going to happen; it is just the manner in which it will be implemented that needs to be decided, Cosatu said on Thursday.

"If you say business needs certainty to make investments ... this is the certainty you need to have, that what is being discussed now is models," Cosatu economist Chris Malikane said at a debate on nationalisation.

He said the task team established by the ANC to examine nationalisation was not looking at the feasibility of the policy, but exploring the most appropriate model to implement.

Cosatu had encouraged the ANC Youth League to place nationalisation firmly on the agenda, he said.

Malikane said all the parties represented at the last ANC national executive committee meeting supported nationalisation.

If the ANC task team produced a study that looked only at the feasibility of nationalisation, it would be rejected outright, he said.

Nationalisation referred to state ownership of all means of production including mines, banks and mineral wealth. Compensation would be paid, but not for land.

"We'll have to compensate in the interests of the public, but not in a way that will cripple the South African state... there has to be a balance."

He said land was a natural asset that should be owned by the state and used by farmers, and that no compensation should be given for land.
cosatu  |  anc  |  chris malikane  |  nationalisation debate
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
324 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...