Budget speech does little to address economic challenges - opposition
Democratic Alliance leader Mmusi Maimane says Finance Minister Tito Mboweni offered no tangible plans.
CAPE TOWN - Opposition parties say Finance Minister Tito Mboweni’s Budget speech has not done enough to address the country’s economic challenges.
Members of Parliament (MPs) were reacting to Mboweni’s maiden Budget speech, which focused on renewal, increasing tax collection, achieving higher economic growth and reconfiguring state-owned enterprises.
WATCH: 'Extremely flat & no plan on SOEs' – MPs slam Mboweni’s Budget speech
But Democratic Alliance leader Mmusi Maimane says Mboweni offered no tangible plans.
“That was probably the most disappointing budget I’ve seen. It had no economic plan. It spoke and mixed its words around Eskom but no deliberate action on what changes we going to bring, instead of a bailout of R23 billion. He did not reduce the Value Added Tax to 14% or introduce sovereign fund. It’s clear that the minister doesn’t know how to take South Africa out of these difficult challenges."
National Freedom Party MP Nhlanhla Khubisa says: “We’re not satisfied. The speech was very scant on job creation. Also, pumping money into SOEs that are not performing is not good at all.”
To read Minister Tito Mboweni’s full Budget speech, click here.
(Edited by Zamangwane Shange)