The DA says it will submit a formal request to the Socio-Economic Impact Assessment Unit in the Presidency asking that it conduct a risk assessment of the impact that expropriation of land without compensation will have on the economy should the Bill be passed.
The party says according to research by the Gordon Institute of Business Science, the economic effects of land expropriation will wipe off R270 billion from the country’s GDP and this will also result in 2.3 million job losses.
The official opposition also says that South Africa may be kicked out of AGOA by the United States as the preferential market access policy permits countries that commit to protecting private property rights.
The DA’s Dr Annelie Lotriet says president Cyril Ramaphosa’s repeated claim that Section 25 can be amended without affecting the economy and food security is very misleading.
The National Assembly has granted the Ad Hoc Committee on the amendment of Section 25 of the Constitution a 30-day extension to complete its work.
The committee, tasked with coming up with legislation to enable amendments that will allow for land expropriation, made the request for the extension in June.
Ad hoc committee on land expropriation without compensation deliberates on report: