The Democratic Alliance described Finance Minister Enoch Godongwana’s absence from Tuesday’s briefing as completely unacceptable.
Sars collected an extra R120 billion thanks to running commodities prices, but Finance Minister Enoch Godongwana used his first budget address to again commit the government to more prudent spending.
Minister of Finance Enoch Godongwana said that although government directed more than R290 billion to bail out state-owned companies since 2013, SOC's have been badly managed and have failed to deliver. Godongwana said that in this year's medium-term budget speech no additional funding is provided for state-owned companies.
Finance Minister Enoch Godongwana tabled his maiden medium-term budget policy statement on 11 November 2021. Godongwana said the country’s total spending on the social wage is also very high, with this amount growing from R860 billion in 2018/19 to R1.1 trillion in 2021/22. #Treasury #MTBS #MTBS2021
Finance Minister Enoch Godongwana said there needs to be economic reform, but has cited better economic growth for this year with the country recovering from the effects of the COVID-19 pandemic.
The new finance minister delivered his maiden Medium-Term Budget Policy Statement in Parliament on Thursday afternoon with state-owned entities listed as a fiscal risk in the budget documents.
Finance Minister Tito Mboweni this year noted the biggest contraction in the economy in nearly 90 years and the need to close the gap between government’s income and its spending – the hippo’s wide-open mouth.
Tito Mboweni will today reveal the extent of the government’s tax revenue shortfall, estimated at more than R300bn.
South Africa talks far too much and does far too little. The time for endless discussion on economic policy must surely be over, writes Judith February.
In his correspondence to the Speaker, Finance Minister Mboweni highlights the recent complex decisions taken by Cabinet in respect of the 2020/21 adjusted estimates.
Tito Mboweni is expected to use the occasion to chart a way forward for the country’s economic recovery.
However, independent political analyst Dale McKinley has cast doubt on whether the investment commitments would lead to job creation and other remedies needed to revive the struggling economy.
Saica is making submissions in Parliament during public hearings on the Mid-Term Budget Policy Statement unveiled last week by Finance Minister Tito Mboweni.
The coalition, an alliance of about 20 civil society organisations was among labour, economists and lobby groups who gave feedback on the Mid-Term Budget Policy Statement at Parliament on Wednesday.
The trades union federation is among a string of organisations, lobby groups and economists making submissions on the Mid-Term Budget Policy Statement at Parliament.
A major concern is that the government’s resolve is strongest on policies that are actually quite suspect.
Mboweni said it’s time for state-owned companies to be weaned off state coffers, and that the government cannot continue to throw money at Eskom.
Dr Jack.
