BOSA claims to have identified R76 billion 'to plug fiscal hole' ahead of Budget Speech
BOSA leader Mmusi Maimane has also called on Finance Minister Enoch Godongwana to prioritise economic growth and fiscal responsibility ahead of the highly anticipated budget on Wednesday afternoon.
Build One South Africa (BOSA) leader Mmusi Maimane. Picture: Facebook/Build One SA
CAPE TOWN - Build One South Africa (BOSA) said it had identified R76 billion in spending cuts to “plug the fiscal hole” ahead of Wednesday's budget.’
BOSA leader Mmusi Maimane said this included responsibly phasing out the R370 Social Relief of Distress (SRD) grant and freezing "middle and upper management hiring", which the party claims would save R16 billion per year.
Maimane has also called on Finance Minister Enoch Godongwana to prioritise economic growth and fiscal responsibility ahead of the highly anticipated budget on Wednesday afternoon.
Maimane said that BOSA had identified spending cuts from reducing SOE bailouts, which could save about R6.6 billion per year.
Maimane also said the closing of unnecessary diplomatic missions could save R1 billion a year.
"South Africa spends nearly R5 billion on diplomatic missions worldwide. Reducing embassies and high commissions by 20% would eliminate unnecessary expenditure," said Maimane.
Maimane also advocated for phasing out the Social Relief of Distress (SRD) grant "responsibly", which costs R38 billion per year and was unaffordable.
He mentioned the SRD grant during a Parliament finance cluster briefing on Monday.
"We must really confront in its honest sense, whether the government believes we must continue the SRD grant or not."
Maimane said that Wednesday's budget was a "defining moment" and asked whether the government "prioritise the people or continue on a path of reckless mismanagement".