Nene turns to public for ideas on budget
Finance Minister Nhlanhla Nene has asked South Africans to share their ideas for the upcoming budget speech.
CAPE TOWN - Finance Minister Nhlanhla Nene is crowd-sourcing for ideas ahead of his maiden budget speech next month during which he's widely expected to announce tax changes.
Announcing the Budget Tips 2015 Campaign, he has asked South Africans to share their ideas on the upcoming budget and particularly on how to promote economic growth.
Economist Dawie Roodt says the burgeoning Public Service Wage Bill is a massive burden on the state.
"The civil service has become so big it's like a wet blanket that is smothering the sparks of entrepreneurship in the South African economy. My number one tip to the minister is do less and shrink the civil service. We simply cannot afford this anymore."
ETM Analytics' George Glynos says government needs to do more with less in order to spare the economy the burden of tax increases.
"Ultimately we still believe there's a massive amount of wastage that takes place at the government level. If we had to deal with some of that these sorts of unpleasant increases wouldn't even be necessary."
In October last year, the Treasury said government had no option but to adjust expenditure and increase taxes so as to ensure the fiscus remains on a sustainable path.