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DA tables alternative budget

The opposition says it is vital to cut state spending, lower taxes and restore confidence in the economy.

FILE: The DA tabled its alternative budget two days before Finance Minister Pravin Gordhan delivers his. Picture: Aletta Gardner/EWN

CAPE TOWN - The Democratic Alliance (DA) has called for budgetary steps to cut state spending and lower taxes.

The opposition party tabled its alternative Budget two days before Finance Minister Pravin Gordhan was due to deliver his Budget in Parliament.

The DA says it is vital to curtail national debt, which is forecast to reach 45 percent of the country's gross domestic product (GDP) by 2015.

The opposition also wants government to restore confidence in the economy.

At the same time, the South African Chamber of Commerce and Industry (Sacci) warned rising debt to GDP levels affect investor confidence.

The chamber's Pietman Roos says, "At the moment, we have a problem with the weak exchange rate. The solution would be to boost investor confidence by reducing our debt."