The National Union of Metalworkers (Numsa) will on Monday ask all Congress of South African Trade Unions (Cosatu) affiliates to join a national rolling mass action, should the South African Reserve Bank not cut interest rates.
Numsa office bearers were expected to present their plans to the Cosatu executive committee meeting later on Monday, Numsa general secretary Irvin Jim told a press briefing in Johannesburg.
The union would further ”have a presence” at every Monetary Policy Committee (MPC) meeting until interest rates were cut to its satisfaction.
”We have Cosatu’s support that the interest rates should be cut with a further 200 basis points,” Jim said.
”As long as we do not achieve our goal, we will march to the Reserve Bank.”
Numsa condemned Reserve Bank Governor Tito Mboweni’s refusal to accept a petition they wanted to hand to him last week. The union marched to the bank in Pretoria last Wednesday to hand a memorandum to Mboweni. The bank’s officials refused to accept the document.
Jim said Mboweni’s actions were ”arrogant and unacceptable”.
”We wish to inform Mr Mboweni and all public and constitutional office holders that the precedent set by Mr Mboweni must never, ever be employed.
”Anyone who rejects peaceful demonstrations and refuses to accept petitions from the South African working class, who are currently experiencing extreme economic and social difficulties not of their own making, is inviting big trouble,” said Jim.
”You are warned.”
Jim said Mboweni failed to do his public duty when he refused to either directly receive the petition or send a representative to do so.
”Numsa will be seeking an explanation from the governor of the Reserve Bank of South Africa,” said Jim.
”We don’t believe Tito is the Father Christmas of this country.”
Numsa held a mini national congress from May 11 to 14, where it resolved to push for radical changes to the country’s current macro-economic framework.
”[This included] the adoption of such measures that allow for more accountability of the Reserve Bank, dramatic lowering of interest rates, a rejection of inflation targeting and tightening of exchange controls,” Jim said.
”The congress also endorsed the need to increase social spending and speed up service delivery in areas such as housing, education, health, communication and transport, including the provision of affordable water and electricity.”
Numsa’s ”next fight” would be to bring down banking charges and lending rates.
”They are taking a lot of money away from the people.” — Sapa