DA: Mboweni's Budget Speech was a plea to ANC for economic reform

DA: Mboweni's Budget Speech was a plea to ANC for economic reform

- The Democratic Alliance says that Finance Minister Tito Mboweni's speech lacked the detail it needed to give it credibility

- While the DA admits that Mboweni painted an accurate picture of the nation's finances, it isn't impressed by the plan

- The minister's R100 billion job-creation package was snubbed as 'gimmick'

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The DA says that it had high hopes for Finance Minister Tito Mboweni's emergency Budget speech:

"The Democratic Alliance (DA) hoped that Finance Minister, Tito Mboweni would set out a “Resilience Budget” today that would help South Africa brace for the impact of the coming economic crisis. South Africans watching today’s Emergency Budget speech will be left wondering: 'Where is the plan?'"

The opposition party says that the minister managed to paint an accurate picture of SA's finances, but failed to impress beyond that:

"The Minister painted an accurate picture of the horror story of our public finances, and he was right to describe how much worse things will get unless there is a very sharp turnaround soon. But beyond that, the speech sounded like more of a plea to his own party to support the stalled economic reform agenda, rather than a detailed plan for how to avoid a full-blown sovereign debt crisis. Without this detail, the speech lacked credibility."

READ ALSO: Budget speech: Mboweni reveals total spending will exceed R2 trillion

Briefly.co.za reported that the Finance Minister had repeatedly been at odds with the ANC over financial decisions, effectively silenced by the ruling party's wishes.

The DA says that, while Mboweni was calling for reform, the party he belongs to has failed to achieve such to date:

"In short, if the government does not implement far-ranging economic reform now, the economic crisis will be far worse than previously thought. But this government has made no progress on fundamental reform to date."

The opposition party noted with concern that the R100 billion 'job creation' support package reeked of a 'gimmick':

"Of major concern is the lack of any detail on the proposed R100bn economic support package for ‘job creation’. This increasingly looks like a gimmick, nothing more than a re-brand of the public employment programme. This Emergency Budget speech was not the “Resilience Budget” that we had hoped for."

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Source: Briefly.co.za

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