Several relief measures have also been included in the budget – this will see no increase in personal tax – fuel levies and the Road Accident Fund.
Image: Screenshot of Finance Minister Enoch Godongwana delivering the budget speech from the SABC YouTube stream, 23 February 2022
JOHANNESBURG — Opposition parties praised Finance Minister Enoch Gondongwana’s budget speech but said he missed an opportunity to deal decisively with state-owned enterprises crippling the economy.
Gondogwana, in his maiden speech on Wednesday, announced that most government spending would be allocated to social spending, which would include social development and basic education.
Several relief measures have also been included in the budget, this will see no increase in personal income tax, as well as fuel levies and the Road Accident Fund.
The IFP said Gondongwana had met some of its expectations for local government revenue distribution, with the minister allocating R30.7 billion to municipalities.
The party’s deputy chairman, Inkosi Mzamo Buthelezi, raised questions about the government’s continued commitment to helping Eskom.
“Even though he said we would not be bailing them out anymore, he failed to mention that Eskom would continue to get an allocation until 2025. And we expected him to announce a very bold move by the government to begin a process of selling these underperforming entities.”
Meanwhile, UDM’s Nqabayomzi Kwankwa said the minister had addressed all relevant issues but his party disagreed with the government’s decision to cut corporate tax.
Kwankwa also shared his thoughts on the government’s commitments to his own ideas for using infrastructure to grow the economy.
“I’m not sure if they’ve actually laid out a plan here to talk about infrastructure growth and how that’s going to happen over the next two years, especially as the private sector continues to invest where it needs to. doesn’t invest in the economy.”
IFP and UDM highlight Godongwana’s ‘missing’ points in its budget
Source link IFP and UDM highlight Godongwana’s ‘missing’ points in its budget