Nationalisation, salaries discussed at Mangaung

The ANC rejects wholesale nationalisation and prefers the strategic use of state-owned companies.

Delegates at the ANC's Mangaung Conference on 17 December 2012. Picture: GCIS.

MANGAUNG - The African National Congress (ANC) on Wednesday said it was considering whether to recommend measures that will curb salary increases for those with secure employment.

The party brought up the suggestion at its 53rd national elective conference in Mangaung.

Delegates discussed whether salaries should be capped in order to reinvest the extra cash, rather than spend it.

In a draft economic policy document obtained by Eyewitness News , the ANC proposes salary increases to be moderated.

The paper says there is considerable scope for moderating growth of salary packages of those in secure, well-regulated employment.

The target will be high-income earners because the party feels there is too much consumption and too little saving.

A proposal by President Jacob Zuma earlier this year to have salaries capped in the private and public sector was met with scepticism.

NATIONALISATION

The issue of mine nationalisation, raised strongly by expelled ANC Youth League (ANCYL) leader Julius Malema, was also discussed at the gathering.

In its draft economic policy document, the ANC says it rejects wholesale nationalisation and prefers the strategic use of state-owned companies to help government play a bigger role in the economy.

But the ruling party left a back door open, saying it will consider strategic nationalisation where evidence shows it is appropriate.

This means the party might decide that it wants a bigger stake in certain industries, but this will happen on a case-by-case basis.