DA Releases It’s 2020 Budget Speech Proposal to Minister Mboweni

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With a just a day before the 2020 budget speech by Minister of Finance Tito Mboweni, several suggestions are being to the minister on what to prioritise on to strengthen our economy.

The opposition party Democratic Alliance (DA) has tabled some of their opinions and suggestions on what the minister should be focusing on.

Among other issues addressed by the party is the poor performance by state owned companies/enterprises.

The party’s shadow finance minister Geordin Hill-Lewis said the minister must also address South Africa’s immediate fiscal crisis.

  • the unrestrained expansion of public debt means more is spent on interest charges, and there is less money for essential services;
  • the sharp decline in tax revenues because of near-zero economic growth means there is less money for essential services;
  • the ballooning of the public wage bill which means less money for essential services;
  • continuous enormous bailouts for zombie state-owned companies, which means less money for essential services.

He also proposed that state need to stop all bailouts to SOEs will help realise R35,1 billion in the 2020/21 financial year.

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