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DA tables its own proposals ahead of Mboweni's Budget Speech

The party released its proposals in Parliament on Monday just days before Finance Minister Tito Mboweni tables his much-anticipated Budget on Wednesday.

FILE: Finance Minister Tito Mboweni delivers the Medium-Term Budget Policy Statement in Parliament on 30 October 2019. Picture: @TreasuryRSA/Twitter

CAPE TOWN – The Democratic Alliance (DA) has tabled a number of Budget proposals for Finance Minister Tito Mboweni.

The party released its proposals in Parliament on Monday just days before Mboweni tables his much-anticipated Budget on Wednesday. Mboweni’s Budget is expected to address cash-strapped state-owned enterprises (SOEs) and the country’s declining tax revenues.

DA finance spokesperson Geordin Hill-Lewis said Mboweni’s Budget Speech should address South Africa’s immediate fiscal crisis like public debt and declining tax revenues.

“Firstly, the unrestrained expansion of public debt means more is spend every year on interest charges and less money on essential services. Secondly, the tax decline in tax revenues because of near-zero economic growth,” he said.

The party also highlighted the elephant in the room, the ballooning public wage bill.

DA MP Leon Schreiber said: “Unlike the government, we not only recognise the urgent danger posed by this public wage bill elephant in the room, but we are actually able to tackle it head-on with some proactive proposals of our own.”

The DA called on Mboweni to put an end to what it called the “immoral and indefensible” bailout of SOEs.