LABOUR federation COSATU hopes the upcoming budget speech on Wednesday will respond decisively to the many challenges facing the country, including unemployment, corruption, ailing state-owned entities (SOEs) and municipalities.
Finance minister Enoch Godongwana is expected to deliver his maiden budget speech on Wednesday.
The federation said the unemployment rate was at an all-time high at 46%, while thousands of businesses have closed, and billions lost to corruption and wasteful expenditure.
“Many State-Owned Entities and municipalities are collapsing,”said Cosatu spokesperson Sizwe Pamla.
“The Budget needs to respond to these problems and give details to some of the commitments announced by the President in the State of the Nation Address. What we cannot afford is a weak budget that merely offers platitudes. This moment calls for bold and decisive leadership and an aggressive response by government to turn things around.”
Pamla said the labour federation expects the Budget speech to double funding for
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