'How are people supposed to survive?' - 8 reactions to Tito Mboweni's budget speech
Finance minister Tito Mboweni's budget speech failed to address major concerns like unemployment and adequately detail plans to grow the economy.
This is according to politicians and social media users who took to social media to weigh in on the minister's speech on Wednesday.
In his one-hour-long speech, the minister said the government has committed to investing R791.2bn towards infrastructure investment. It has partnered with the private sector to ensure its implementation and rollout.
Mboweni said this was important in attracting investors, who in turn support economic growth.
On SA's debt, Mboweni said public finances are severely overstretched as the government “owes a lot of people a lot of money.”
“These include foreign investors, pension funds, local and foreign banks, unit trusts, financial corporations, insurance companies, the Public Investment Corporation and ordinary South African bondholders,” he said.
The minister also announced an increase in alcohol prices. He said this was done in part to lower the consumption of alcohol and control social behaviours caused by its consumption.
EFF MP Mbuyiseni Ndlozi told Newzroom Afrika that the speech was nothing new.
“The majority of the wealth and economic activity benefits white people. The fact that there is chronic and rising unemployment that has characterised SA's economy for more than three decades, nothing in the budget is going to change that reality. There is no promise that is going to result in more localisation of production happening,” he said.
On social media, users debated the budget, with many asking how they are supposed to survive with so little financial relief from the government.
Tito Mboweni is trying to say we are dumb dumb for saying he has been implementing austerity budgets. He goes for the extreme view: doing away with certain social programmes. Dear Minister, it starts with gradual cuts before complete stoppage. #BudgetSpeech2021— Lukhona Mnguni (@LukhonaMnguni) February 24, 2021
budget speech should be 3 days.1st we get feedback on last yrs plans & implementation.2nd then we get the budget for current yr...3rd we get the implementation plan & who is responsible. this new speech every yr I really don’t get it’s objective. @tito_mboweni #BudgetSpeech2021— moleleki motaung (@MotaungMoleleki) February 24, 2021
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