Tito Mboweni’s budget dishonest and unaspiring, say opposition parties

Dishonest, lacking in detail and unaspiring – these are some of the words opposition parties used to describe Finance Minister Tito Mboweni’s Budget speech.

The Democratic Alliance (DA)’s Geordin Hill-Lewis said that it was concerning that Mboweni did not mention what would happen to state-owned entities such as South African Airways (SAA).

“Our biggest concern is that there was a lot that was not in the speech that is in the detail of the budget. That I think was slightly dishonest to leave out. Chief amongst those is the R4.3 billion, another bailout for SAA, an R31.7 billion for Eskom that wasn’t even in the speech.”

Freedom Front Plus leader, Pieter Groenewald, said that the massive government debt remained a huge concern.

“At this moment we have about R395 trillion debt which the service cost alone is R270 billion annually and over the medium-term, it will increase to R340 billion annually.”

The United Democratic Movement (UDM)’s Nqabayomzi Kwankwa said that the minister’s tax priorities were misinformed.

“So far as they decided to reduce the corporate income tax at a time when they should be reducing the value-added tax rate from 15% to 14% because you’ll recall that even when it [corporate tax] was brought down to 28%, the intention was to try and incentivise the private sector to invest in the economy and the outcome was that the private sector embarked on an investment strike.”

-EWN

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