Opposition parties say Mboweni did as much as he could with Budget
Most parties welcomed Finance Minister Tito Mboweni’s decision not to burden South Africans with more tax.
CAPE TOWN - Opposition parties have generally welcomed Finance Minister Tito Mboweni’s Budget.
Most parties welcomed his decision not to burden South Africans with more tax.
But parties feel the minister could have said more about state-owned entities like Eskom and how he planned to handle public sector trade unions in his effort to cut the public wage bill by R37.8 billion.
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Opposition parties agreed that Minister Tito Mboweni did as much as he could under the circumstances.
Mboweni delivered his Budget Speech in Parliament on Wednesday against the backdrop of an economy that would grow at less than 1% next year, with the debt to GDP ratio topping 65% by the end of 2021.
It was a picture of an economy in a serious crunch but the DA’s Geordin Hill-Lewis said that there were some positives in the speech.
"We welcome no new taxes - that is good news for the economy, good news for economic growth. It's also great news for families who've been struggling to make ends meet over the last few years."
EFF leader Julius Malema was also somewhat optimistic, saying they welcomed, among others, the establishment of a state-owned bank.
"He tried everything he could under the circumstances. We know the conditions are not favourable, we find ourselves in a very tight situation. We welcome, particularly, the establishment of a state-owned bank, the sovereign wealth fund."
Smaller parties like the IFP and Cope were more critical, saying that the budget was not pro-poor and didn’t focus enough on SOEs.