Mini Budget 2020: Despite spectre of debt spiral, Mboweni delivers a determined glass half-full speech

A hardy aloe stood at the speaker’s podium of the National Assembly when Finance Minister Tito Mboweni delivered the 2020 Medium-Term Budget Policy Statement on Wednesday.

It was that plan to which Mboweni anchored his MTBPS speech in Parliament. Ramaphosa attended through a virtual link since he is in quarantine after attending a dinner where a guest had tested positive for Covid-19. And with infrastructure central to this plan, the finance minister announced social housing subsidies of R2.2-billion, with another R6.7-billion contractually committed to this programme, escalating to R20-billion over the next 10 years.

Highlighted was R1-billion for food relief, alongside R12.6-billion before March 2021 to presidential employment schemes, with R2-billion allocated to Working for Fire, Working for Water and Working for Forests employment programmes.The R10.5-billion SAA bailout was finally mentioned; businesslike and without much ado. “You can’t run away from your obligations,” was Mboweni’s response to heckling from the opposition benches.

“We are far poorer than we thought,” admitted Mboweni, explaining why borrowing to get out of the fiscal squeeze was no longer possible.

'Mr President, under your wise leadership ' What? Who is he trying to fool....?

Just a load of rubbish

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