WATCH: ‘A full-scale budget blowout’

2017-10-26 15:39 - Matthew le Cordeur

Cape Town - Politicians and other stakeholders reacted with differing opinions following Finance Minister Malusi Gibaba’s maiden mini budget speech on Wednesday.


Democratic Alliance MP David Maynier said the speech revealed “the full horror of President Jacob Zuma’s catastrophic mismanagement of the economy” and was a “full-scale budget blowout”.

Interestingly, presidential hopeful and ANC MP Nkosazana Dlamini-Zuma attempted to avoid the media by ducking into her chauffeured luxury car.

However, when asked about the mini budget from an economic transformation perspective, she responded, “yes, I’m happy”, as the car door closed.

Reacting to questions on the implementation of a nuclear new build programme, Energy Minister David Mahlobo said cost implications would be looked at when implementing any energy project.

DA Alf Lees said SAA needs to be stabilised and put into a very profitable position before you can think about private equity.  

“The aeroplane is about to crash, and they may be able to pull out of the dive and save it, but we don’t have high hopes for that being able to happen, unless they are given free rein to run it as if it is in business rescue, (without political constraints).”

Others who commented included:

  • Trade and Industry Minister Rob Davies (on how trade can increase economic growth)
  • ACDP MP Steve Swart (on issues of the fiscal framework)
  • National Treasury director general Dondo Mogajane (on selling assets to avoid breaching the fiscal ceiling)
  • Black Business Council President Danisa Baloyi (on the importance of skills development to increase inclusive economic growth).

* Visit our Mini Budget Special Issue for all the news, views and analysis.

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