Budget2020: Opposition parties have mainly welcomed Finance Minister Tito Mboweni’s budget speech, saying he did not have much room to manoeuvre.
Taxpayers and business alike breathed a sigh of relief when Mboweni announced marginal tax cuts over the next financial year. A tight spotIt’s a difficult line he’s trying to manoeuvre. It’s not a pro-poor budget. And I don’t think he said anything that is going to stimulate the economy except for a few cosmetic changes.
“We welcome that there’s no tax increase, and in fact income tax relief. That’s great news and it is pro-growth. That’s more money in our pocket and it’s good for the economy,” Hill-Lewis said. “We welcome the tough talk on the public-sector wage bill,” said Hill-Lewis. “The question remains: Can it be delivered? It’s a number in a budget but it hasn’t been negotiated yet with public sector unions and whether it can be delivered, that remains to be seen. If not, then the minister has a credibility problem.”acknowledged that Mboweni does not have much to work with, adding that the speech didn’t inspire much confidence.
“He could have been more upfront about what is going to happen with state-owned enterprises . Are we going to privatise, semi-privatise, bring in partners? But just saying we’re going to bail them out, we’ve been hearing that over and over again,” Singh said. Without mentioning the word, Mboweni’s announcements that social spending on health, education, and social welfare will be trimmed down, indicated an era of austerity.
“To say we are going to have another 200 prosecutors isn’t going to solve the problem. We need to ensure that swift justice is carried out. Justice delayed is justice denied particularly in the area of corruption where there is the biggest leakage of taxpayers money,” said the IFP’s Singh. But the most stinging rebuke for Mboweni was probably from his political party’s alliance partner, trade union federation Cosatu.
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