Home Strategy Marketing Mbowenis budget speech ‘predictable’ and ‘underwhelming’ – EFF – The Citizen

Mbowenis budget speech ‘predictable’ and ‘underwhelming’ – EFF – The Citizen

The Economic Freedom Fighters (EFF) has slammed Finance Minister Tito Mboweni’s Medium-Term Budget Policy Statement as “predictable” and “underwhelming”.

According to the EFF, the budget attacks workers and the poor people in the interest of profit and the advancement of private interest that serves the few.

“The continuing onslaught on workers income and basic services that majority of the poor rely on is disgraceful and will not stop unless society mobilises intensely for the removal of Tito Mboweni as finance minister and ultimately the incompetent, corrupt and spinelessness ruling party.

“Since his appointment, Mboweni has not tabled any believable and practical economic policy that has the potential to grow the economy, create jobs, reduce poverty and inequality. Instead, Mboweni’s appointment has been disastrous for South Africa.

“Mboweni has even gone as far as undermining the announced R500 billion COVID-19 social and economic stimulus package, which made it imaginary intervention more than anything. Mboweni’s policy statement is nothing but a pamphlet from the Bretton-Woods Institutions used to solve the economic crisis in the most backward and unscientific manner,” said the party.

The EFF further slammed Mboweni’s proposal for a large reduction of non-interest expenditure of R300 billion over the next three years.

“This is money that will come from public servants’ salaries, national skills, training and education, agriculture and rural development and reduction of money for employing healthcare workers. To revive the economy, any proposed budget cuts that fail to allocate funding for additional capacity in the state to deliver services, the inclusion of rural economy into mainstream economy and protection of food security as it is with Mboweni’s proposal is misguided, shortsighted and is misaligned with the ill-conceived Ramaphosa plan to create 800,000 jobs. This is completely misaligned with the crisis levels of poverty and joblessness.”

Read the party’s full statement below:

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