In case there is any misunderstanding the DA would like to point out how this latest scandal involves the ANCYL.

The most important thing for South Africans is that whatever its value, the rand remain stable rather than fluctuating wildly.

The actions of a small minority in operating slush funds and operating secret loans have overshadowed the work of many who are trying to clean the party up.

A projection forward, with expenditure remaining at budgeted levels, could well result in a revenue overrun of 20 billion rand for the year. This will allow the government plenty of room for tax cuts and a further increase in infrastructural spending.

In this case all that has been achieved is that the state has influenced an investment decision in the directions of stocks and bonds rather than property.

Instead of the present ad hoc adjustments to the tax rate we ... call for government to provide greater certainty to the market regarding its fiscal regime by committing itself to a target corporate tax rate in the region of 25% to be implemented within a fixed time frame. This would provide an immediate boost to investment and therefore jobs.

I would like to be assured it had exhausted its powers before getting more.

I'm astonished at the amount of money involved in these secret loans, and would want to know where the money has gone.