Godongwan’s overly cautious budget hampered by ”ANC radicals who are opposed to growth” – DA

INSIDE POLITICS TEAM|

THE Democratic Alliance says the Minister of Finance Enoch Godongwana’s budget speech offered a welcome but cautious narrative on the state of South Africa’s fiscal trajectory. 

The party, however, said it was concerned that the finance minister did not go far enough to address the elephant in the room, the public sector wage bill, escalating costs of our national debt and precise detail on the State-Owned Enterprises (SOEs).

“Although we welcome the reduction in the corporate income tax, which the market had already factored in, GDP growth is still very low to support job creation and reduce unemployment,” said the party’s shadow minister of finance, Dion George, shortly after Godongwana delivered his maiden budget Budget Speech in Parliament. 

“Projected average GDP growth of 1,8% over the next three years will not be enough to address South Africa’s high unemployment rate which reached 34,9% in the third quarter