Unions worried workers, poor will feel brunt of MTBPS
The Medium-Term Budget Policy Statement, which comes amid increased pressures on the declining economy, is largely expected to focus on austerity measures.
JOHANNESBURG - The country's organised labour said it was concerned that workers and the poor would be hard done by when Finance Minister Tito Mboweni presented the Medium-Term Budget Policy Statement on Wednesday.
The presentation, which comes amid increased pressures on the declining economy, is largely expected to focus on austerity measures.
The South African Federation of Trade Unions (Saftu) said that the result of government's approach had been devastating, adding that the country was in the middle of its biggest jobs bloodbath yet.
Meanwhile, Cosatu's Matthew Parks said that the federation expected a coherent statement with clear targets and timeframes, unlike what he said was Mboweni's tepid presentation in his February budget speech.
"The entire country is worried given that the economy is in a bad state. We've 40% workers unemployed and every month thousands of other workers are being retrenched across different sectors of the economy. Of course, the state itself is in a huge crisis, we have declining tax revenues, a very bad anticipated tax revenue shortfall of between R60 billion and R80 billion."