Gigaba: Solution to our challenges cannot be populism
Finance Minister Malusi Gigaba has challenged business leaders in Durban to support government as it aims to create economic growth and more jobs.
DURBAN - Finance Minister Malusi Gigaba has challenged business leaders in Durban to support government as it aims to create economic growth and more jobs.
Gigaba is in Umhlanga on Tuesday morning addressing CEOs at a business breakfast about “shaping South Africa through collaborative planning and execution”.
During his maiden mid-term budget policy statement last week, Gigaba painted a bleak picture for the country with just over R50 billion in tax revenue shortfall.
#MalusiGigaba With such little economic growth there's very little social and economic transformation that we can expect. ZN— EWN Reporter (@ewnreporter) October 31, 2017
#MalusiGigaba The problem with prolonged low growth is,it locks your mindset into survivalism & no longer think about growing /going higher— EWN Reporter (@ewnreporter) October 31, 2017
Gigaba has reiterated that South Africa is in a difficult fiscal position and everyone, especially the business community, needs to get on board.
“The private sector must give something, they must bring something to the table.”
Gigaba says now is not the time to waste on populist ideologies.
“The solution to our challenges cannot be populism. You listen to it all the time. People talk about what needs to be done and get locked into their ideologies, instead of becoming pragmatic about the challenges we’re facing.”
The finance minister says he doesn't foresee a tax revolt in South Africa and has commended Sars for its capabilities to collect revenue.
(Edited by Shimoney Regter)