Budget speech 2020
LIVE BLOG: SA will end up bankrupt if we do not act now- Mboweni
Finance Minister Tito Mboweni unveils his special adjustment budget during a joint sitting of Parliament this afternoon.
We have made a deliberate decision not to pursue a path of austerity, writes Cyril Ramphosa.
Finance Minister Tito Mboweni last week proposed that the public sector wage bill be slashed by R160 billion over the next three years.
It said risks remain skewed towards a higher debt path given challenges in increased spending and persistent risks to growth.
The labour federation, which was the first formation within the ANC and its broader movement to nominate Cyril Ramaphosa as president, berated its limited influence in government.
We need to normalise the tax conversation so that each year we’re not caught standing with our heads in our hands fretting about things that no one actually taught us, writes Haji Mohamed Dawjee.
The organisation said it saw Finance Minister's Tito Mboweni's budget as a challenge to labour and has again rejected government's plans to claw back on the public wage bill.
Finance Minister Tito Mboweni is acutely aware of what needs to be done to repurpose the state, specifically National Treasury, for its democratic mandate, writes Judith February.
By Dr Jack & Curtis.
Treasury said that over the past 20 years, increases of the RAF levy had typically exceeded inflation yet the liabilities of the fund had grown at a faster pace.
Finance Minister Tito Mboweni presented new budget allocations for the NPA, the priority investigative unit (the Hawks) and other law enforcement agencies, which were expected to tackle the massive backlogs in corruption cases.
The proposed cuts to the wage bill budget formed a key part of the national Budget Speech on Wednesday.
Just 125,000 people pay one-fifth of the R1.5 trillion the South African Revenue Services (Sars) collects in taxes.
They said Finance Minister Tito Mboweni's budget shows government doesn't value workers and views them as easy targets.
Finance Minister Tito Mboweni was true to his word and didn’t say much about Eskom in his speech but did announce that government would allocate R230 billion over ten years to restructure the sector.
Most parties welcomed Finance Minister Tito Mboweni’s decision not to burden South Africans with more tax.
Finance Minister Tito Mboweni said the tax break was one of the measures he hoped would jump-start the economy, but he had also warned that power cuts could stifle growth and that a stable electricity supply was the government’s most pressing priority.
Reacting to Finance Minister Tito Mboweni’s 2020 budget speech, Western Cape MEC for Economic Opportunities and Finance David Maynier said SOEs again received bailouts despite not performing.
This was announced by Finance Minister Tito Mboweni on Wednesday while tabling his R1.95 trillion budget in Parliament.