Expectations of the 2024 Budget Speech

FINANCE Minister Enoch Godongwana will present the budget allocation for 2024 to Parliament on Wednesday, February 21 at 14:00 in the Cape Town City Hall.

According to the parliament of South Africa, the Budget Speech, among others, aims to balance economic growth and support for the vulnerable in our society despite limited resources. 

During the speech, Godongwana will outline all the financial, economic and social commitments that the government will prioritise in its planned expenditure.

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“The minister will provide a detailed plan for 2024 spending, including proposals for revenue collection to help fund the government’s planned interventions and commitments. He will also introduce the Appropriation Bill and table the Division of Revenue Bill which Parliament will process in the following months,” stated the parliament. 

As one of the annual significant events in the country, citizens are waiting to hear what the minister will be saying. To hear what the citizens are expecting from the Budget Speech, Caxton Local Media asked the people of Durban and KwaZulu-Natal, who are also taxpayers, what their expectations are of the budget speech. This is what they had to say. 

Lusanda Zwane (medical doctor) 

The Budget Speech represents the priorities of the government in terms of the people of South Africa. 

It is more meaningful than any election manifesto. The minister has the responsibility to speak, not only to the economy and its growth or plans for its growth but most, importantly, to speak to the bread-and-butter issues of people: investment in healthcare, investment in education and investment in social support. 

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The one thing I am hoping to hear from the minister, though, as a medical doctor myself, is a plan for the government to never, ever again subject doctors to unemployment while the healthcare system already overburdens the existing doctors.

Treasure Ndlovu (Teacher) 

I expect a whole lot of numbers that mean very little to an everyday person like me. I expect to be told how the economy grew while not fully understanding how the general quality of life has gone from bad to worse. I expect Eskom to get the lion’s share of the profit even though load-shedding will continue to persist while a sad and pathetic increase will be implemented for the old age and disability grant along with that for child support of foster care.

Sithokozile Gcabashe (Environmental Control Officer) 

Honestly, I don’t expect much since I have lost faith in our government. Things are tough and continue to become tougher, especially for the poorest. Firstly, food security needs to be a priority in social development – communities are becoming even more hungry. The R350 is not making much difference.

Secondly, health: Public health institutions are falling apart. Some clinics go for weeks without medication, and public hospitals run out of critical medication. I recently went to a public hospital to give birth; it was the worst experience ever. [There is a] shortage of doctors and nurses. The nurses are rude and untrained. I really hope funds can be allocated to the Health Department for training and medicine.

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Lastly, tax. We, as taxpayers, are suffering because of this double tax. We pay PAYE and also pay tax on everything that we buy. The cars, houses, petrol, food and even PAYE are going up with no salary increase. This is an issue that needs to be addressed. Some of us are working, but we are poor. We hope that this year, we will be considered as we are not coping as taxpayers.

Kevin Allan (business owner) 

From the mid-term budget, the government was told to cut expenditure which has not happened.  Now, we are waiting on the Budget Speech, and all is not well.  The president has used SONA to start electioneering and has made lots of promises to the masses: the NHI, expanding grants, claiming many false victories like state capture is no more and the SOEs need money, and the list goes on.  

Then we have all the bad internal decisions that play out in the global field that weaken the rand and affect everything, including petrol, as we continue a downward spiral. They cannot raise VAT so personal tax, company tax, excise and what they call wealth tax are in the firing line. We will all need to tighten our belts so that MPs can live well while the poor get poorer.

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