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Mboweni's budget speech receives mixed reaction from political parties

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Finance Minister Tito Mboweni's supplementary budget speech has received a mixed reaction from political parties, with concerns about the lack of focus on struggling state-owned enterprises.

Mboweni delivered his supplementary budget speech on Wednesday in a virtual briefing to Parliament. The Covid-19 pandemic had upended the speech he gave in February, with spending being shifted to address the economic impact caused by the pandemic.

Mboweni spoke about R41 billion for a social relief package had been allocated for social spending, which will be allocated to the Department of Social Development. "All Ramaphosa and Mboweni are concerned about are to safeguard and bailout big business, in particular banks that have no regard for workers and poor people.

"The minister of finance has not made any major pronouncements on the state of state-owned entities and has left far too much room for speculation in a time whereby certainty is required to boost investor confidence," the IFP said.

 

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