Budget speech: Political parties outline their expectations

Budget speech: Political parties outline their expectations

Opposition parties have outlined their expectations ahead of the national budget speech set to be delivered by Finance Minister Enoch Godongwana in Cape Town on Wednesday.

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

He will also provide a detailed plan for 2024, including proposals for revenue collection to help fund the government’s planned interventions and commitments.

South Africa’s low economic growth

Good party secretary general and Member of Parliament Brett Herron said the focus of Godongwana’s budget speech should be on the country’s low economic growth crisis.

“South Africa has a poverty crisis, an unemployment crisis and a low economic growth crisis. These crises are all linked to each other and the only way we release South Africans from the poverty trap is by growing our economy and creating jobs.

We need at least 5% to 6% economic growth to create employment that will meaningfully reduce the extreme poverty that nearly 18 million South Africans are trapped in,” he said.

ActionSA president Herman Mashaba said Godongwana should expand funding for higher education.

Budget speech should outline priority on higher education

“ActionSA maintains that education is one of the best tools for people to empower themselves and their families and lift them out of poverty. It is furthermore imperative that quality education be prioritised to ensure that we have the skills necessary to grow our economy and create millions of jobs.

South Africa is suffering from a growing skills shortage in key areas. Addressing this shortfall as part of a holistic approach to all phases of education, including expanding funding for higher education, is critical for economic prosperity,” he said.

African Christian Democratic Party (ACD) Member of Parliament Steve Swart said billions of rands stolen through state capture should be recovered, adding that these additional funds can help balance the books.

“Given the slow recovery of the tens of billions of rands stolen through state capture and corruption, approach civil courts internationally to recover these funds, which have special procedures that are swift, often unopposed, and very effective,” Swart said.

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