#MTBPS2019 IFP Cautiously Optimistic That Minister Mboweni Will Walk His Talk

Inkosi Mzamo Buthelezi MP
IFP Spokesperson on Finance

The IFP welcomes the frank and honest remarks delivered by Finance Minister Tito Mboweni in providing a thorough diagnostic report on the issues plaguing economic growth and development in our country; and in admitting that we are indeed facing an economic crisis.

However, we do hope that the tough talk by Minister Mboweni will be met with real action and a strong commitment from all sectors of our society to solve the myriad of socio-economic issues we face.

We are cautiously optimistic that the Minister will be able to implement his stated ideals against the backdrop of our ever-increasing debt to GDP ratio which will place us in an unfavourable position and using contingency reserve funds to deliver services. These factors are a grave impediment to ensuring a sustainable and secure economy and future for all South Africans.

Contingency reserves are meant to be reserved. We can’t ask South Africans to save money for a rainy day when government is not able to assure us of safety when we need to weather a severe storm.

Furthermore, we welcome the statement and willingness of the Minister to engage equity partners to rescue SAA and his commitment to withhold further funding to ESKOM until it proves itself to South Africans.

The adjustments to freezing executive pay and the possibility of ensuring the trimming of the public sector wage bill, through adjusting downwards the over-payment of officials who do not offer the public service any value, is a welcomed move. The Minister however was not strong in expressing much detail as to how he will do this and did not provide for any assurance that it will indeed take place swiftly.

It disheartening to note that the Minister backtracked on the promised scrapping of e-tolls in Gauteng and now leaves yet another bill to pay at the footsteps of motorists who are already stretched to pay for fuel. It is clear that the promises on scrapping e-tolls were merely to sustain the ANC’s showing at the polls in the 2019 National and Provincial Election earlier this year.

We note the NPA’s increase in funding and we welcome this as we now want to see officials, criminals and politicians be brought to book and placed behind bars for any form of corruption, money laundering and for flouting regulations for procurement of goods and services.

South Africans are desperately looking to government to provide economic relief and to lift the strain that millions of our people face in just trying to make ends meet and to keep their livelihoods afloat.

We can only achieve real meaningful social and economic justice in our country when those who are elected into public office hold high levels of integrity and use the public’s hard-earned tax money honestly and in keeping with promises to deliver good quality and effective services which impact and improve the lives of all South Africans.

Inkosi Mzamo Buthelezi MP
IFP Spokesperson on Finance
072 390 6112