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SA’s shrinking economy needs urgent intervention, says Cosatu

The trade union federation was among a range of organisations and lobby groups making submissions at Parliament during public hearings on the budget.

FILE: Cosatu members march in Cape Town. Picture: Kaylynn Palm/EWN

CAPE TOWN - The Congress of South African Trade Unions (Cosatu) said that the shrinking economy needed urgent intervention and that the “tinkering” in the budget presented by Finance Minister Tito Mboweni last week was not enough to deal with the challenges the country was facing.

The trade union federation was among a range of organisations and lobby groups making submissions at Parliament during public hearings on the budget.

Cosatu’s Tony Ehrenreich said the fact that the country had slipped back into recession should be of great concern.

“We need an urgent intervention to respond to the challenges that confront us and the tinkering that we’ve seen in this Budget is not sufficient.”

Cosatu slated the Budget as "underwhelming" and lacked a clear diagnosis of the problems, as well as a plan to address them.

“We think that many of the provisions [in the Budget] are going to cause us a greater political challenge on the back of a governance and economic crisis that we have at the moment.”

Cosatu said civil servants were being made the scapegoat for government leaders implicated in state capture and politicians who "are incapable of showing leadership to turn the state around".