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Vol 53 No 12

Published 8th June 2012

South Africa

Higher taxes, less nationalisation

Instead of nationalisation, an ANC report proposes new taxes, a swarm of regulatory commissions and a new super-state mining company

An attempt to meet the political requirements and the economic self-interest of factions in the governing African National Congress has produced a plan for super-taxes on mining profits, partial nationalisation and a bigger state-owned mining company. ANC leaders tell us the plan will win broad support and counter the calls for wholesale nationalisation without compensation, which are pushed by the ANC Youth League (ANCYL) and its ousted leader, Julius Malema.

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