2000

UNITED DEMOCRATIC MOVEMENT

MEDIA RELEASE


UNEMPLOYMENT INSURANCE FUND BANKRUPT

MEDIA STATEMENT ISSUED BY GERHARD KOORNHOF, MP
SPOKESPERSON FOR FINANCE

The UDM is shocked by the revelation that the Unemployment Insurance Fund is bankrupt with an accumulated deficit of R122 million, as reported by the Auditor General. 

The UDM calls on the Minister of Labour to urgently implement acceptable measures to rectify the situation, both on the revenue and expenditure sides of the Fund.

Furthermore, we call on the Minister of Finance to implement a reliable and measurable statistical database for levels of unemployment in all production sectors, updated on a regular basis. Through this measure Government, with the assistance of the Private Sector, will be empowered to manage and reduce the levels of unemployment.

An acceptable plan of action to deal with unemployment cannot be based on inaccurate of non-existent statistics regarding unemployment.

Enquiries:
Dr Gerhard Koornhof, MP

Cape Town
16 May 2000