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Mini budget is roundly rebuked for cutting on public spending

General 1 year ago

To avert a catastrophe ‘government must cut the public service wage bill, sell state-owned enterprises, split Eskom into three and find equity partners for SAA’.


01 Nov 2019
PREMIUM!
Mini budget is roundly rebuked for cutting on public spending

Tito Mboweni, South African Minister of Finance, delivers his 2019 Mid-Term Budget Statement in the South African Parliament in Cape Town, on October 30, 2019. Picture: AFP / RODGER BOSCH

Political parties, trade unions, farmers and economists united in condemning Finance Minister Tito Mboweni’s medium-term budget policy statement (MTBPS) for relying too much on public spending cuts that could come back to haunt him. South African Federation of Trade Unions (Saftu) general secretary Zwelinzima Vavi said the militant independent union federation correctly predicted that Mboweni’s budget would be an assault on the workers and the poor. Vavi said the government had missed another opportunity to confront the worsening economic crisis. “Ever greater numbers are falling into the poverty trap. Statistics show the catastrophic levels of unemployment and deepening inequalities. But...

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