With the decision to bring the Expropriation Bill of 2020 to parliament on 14 September, South Africa once again stands at a major turning point in its history. This means that the new law can be put into effect as early as November of 2022.
Mr Henry Geldenhuys, President of TLU SA, claimed that the Constitution states that property is not limited to land alone, and the law now restricts the expropriation of land without compensation, but the problem is that the principle is inherently broken, and the Constitution’s provisions can transform to become applicable on all other property.
Mr Henry Geldenhuys also stated that the act is extremely short-sighted and asks who would invest in a country where the State has usurped such a power. He further states that with unemployment spiralling out of control due to the ANC’s reform policies, it will remain an open question on how the government will proceed in terms of investor confidence and states that this will always be the starting point for economic growth. Economic growth, according to Mr Geldenhuys is the only way to solve the reality of society, which is getting worse day by day.
The principle of private property rights is fundamental to creating wealth and should be protected. The path taken by the government will only bring more poverty and grief to an already struggling country.
Mr Geldenhuys adds that residents of our country, need to do everything in their power to counter this proposal from the ANC, if they are serious about the future of our country.