<\/p>\n
The closure of ArcelorMittal’s operations in Newcastle and Vereeniging, leading to the loss of 3,500 jobs, has sparked strong reactions from political parties. The company\u2019s decision to wind down its Long Steel Business clearly reflects the country\u2019s deep-rooted economic challenges.<\/p>\n
ActionSA has expressed concern, highlighting that the closure underscores flaws in South Africa\u2019s industrial and economic policies.<\/p>\n
Alan Beesley, ActionSA member of parliament (MP), stated, “This closure lays bare the ineffectiveness of the current government.”<\/p>\n
He blamed the government for failing to address key issues such as weak economic conditions, unreliable infrastructure, and escalating energy costs.<\/p>\n
He stressed the need for a comprehensive review of the country’s industrial policies, including policies like the Price Preference System (PPS) and export duties, which have not supported long-term industrial growth.<\/p>\n
“South Africa urgently needs bold and decisive leadership to stabilise key sectors, create jobs, and rebuild the economy,” Beesley said.<\/p>\n
While the Economic Freedom Fighters (EFF) also criticised the government’s handling of the crisis.<\/p>\n
EFF spokesperson Leigh-Ann Mathys said the party was not surprised by the retrenchments, stating that the delays in the process were a \u201cmalicious electioneering tactic”.<\/p>\n
Mathys argued that the government\u2019s promises to address the steel industry\u2019s challenges were unsubstantiated and that the delays in retrenchments were politically motivated.<\/p>\n
“The retrenchments were being postponed in order to cushion a negative electoral outcome for the then ruling party,” she said.<\/p>\n
Mathys went further to criticise the ANC-DA Grand Coalition, calling it a political pact of the \u201cneo-liberal elite\u201d that would benefit the financial sector while undermining industrial growth.<\/p>\n
“The death of the steel sector in South Africa is indicative of the massive de-industrialisation of our country,” she said.<\/p>\n
Politics<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The closure of ArcelorMittal’s operations in Newcastle and Vereeniging, leading to the loss of 3,500 jobs, has sparked strong reactions from political parties. The company\u2019s decision to wind down its Long Steel Business clearly reflects the country\u2019s deep-rooted economic challenges. ActionSA has expressed concern, highlighting that the closure underscores flaws in South Africa\u2019s industrial and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[7086,17200,3807,11183,1075,17173,17201,11335,4091],"class_list":{"0":"post-227858","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-politics","7":"tag-actionsa","8":"tag-arcelormittal","9":"tag-eff","10":"tag-failures","11":"tag-governance","12":"tag-highlight","13":"tag-layoffs","14":"tag-policy","15":"tag-slam"},"yoast_head":"\n