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Nothing to get excited about - IFP

Johannesburg - There was nothing to get excited about in Finance Minister Nhlanhla Nene's budget tabled in Parliament on Wednesday, Inkatha Freedom Party leader Mangosuthu Buthelezi said.

"The country is in an economic stretch, no doubt about that. There is nothing really that excites anyone and that any citizen would be happy about it," Buthelezi said in reaction to Nene's budget.

"There is nothing optimistic about it... It really worries me the direction the country is going, economically speaking."

He said Nene was open in describing the speech as a balancing act, and had little choice but to target personal income tax.

"Frankly, I expected worse and really didn't see what he was going to do as far as that's concerned," he said.

"I mean things like raising petrol by 30.5c a litre, that is not good news for our citizens in our country.

"I'm very concerned about the fact there is nothing that one can look forward to that it is positive."

Buthelezi did not think South Africans could sleep soundly at night, with the increase in electricity prices being the last thing they needed.

"Why do we deserve this as South African citizens? Because in the first place it is wrong to have parastatals," he said.

"I remember us bailing out the airlines, SAA, and to continue to say that to finance these things, which are actually supported by taxpayers' money and continue to tax the taxpayer, it is really grossly inconsiderate on the part of government and the minister of finance."

Nene announced some personal income tax increases, a hike in the general fuel levy, in the Road Accident Fund levy and electricity levy, and increased excise duties.

Consolidated government spending was expected to be R1.35trn and revenue about R1.2trn. GDP was projected to grow from two percent in 2015 to 2.4% in 2016, and 3% in 2017.

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