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Maynier: Govt must end SOE bailouts

Political parties are hoping that Finance Minister Tito Mboweni doesn't offer any bailouts to struggling state-owned enterprises when he delivers his maiden Medium-Term Budget Policy Statement (MTBPS) in Parliament on Wednesday.

South African Airways plane. Picture: Facebook

CAPE TOWN - Political parties are hoping that Finance Minister Tito Mboweni doesn't offer any bailouts to struggling state-owned enterprises.

Mboweni will deliver his maiden Medium-Term Budget Policy Statement (MTBPS) in Parliament on Wednesday.

The Democratic Alliance (DA) wants a moratorium on all government bailouts.

During last year’s MTBPS, former Minister Malusi Gigaba announced a R4.8 billion bailout of SAA.

WATCH: What to expect from Mboweni's maiden MTBPS

The government had offered the facility to the airline to ensure it continues to operate as a going concern.

But Inkatha Freedom Party spokesperson Mkhuleko Hlengwa says bailouts are not sustainable and the state can’t continue throwing money at the problems.

DA shadow Finance Minister David Maynier says as much as bailouts can’t be ruled out, the government needs to put an end to them.

“We believe the minister should present a credible plan to reform state-owned enterprises by placing a moratorium on any further government guarantees to state-owned enterprises.”

Cash-strapped SOEs, like Denel and SAA, will now have to wait to see what Mboweni will offer them come Wednesday.

(Edited by Shimoney Regter)