- The EFF has rejected the budget speech and called on President Cyril Ramaphosa to remove Malusi Gigaba as finance minister
- The EFF boycotted Gigaba’s maiden budget speech
- Gigaba’s budget included the first increase in VAT since 1993
The Economic Freedom Fighters (EFF) has rejected almost the entire 2018 budget. The party also called on President Cyril Ramaphosa to remove Malusi Gigaba as finance minister.
The EFF was back in familiar territory on Wednesday when it’s Members of Parliament (MPs) boycotted Gigaba’s maiden budget speech. The EFF walked out of Parliament in protest of Gigaba’s alleged role in state capture.
The EFF reiterated its rejection of Gigaba and in a statement said he was an illegitimate minister.
Briefly.co.za gathered that the EFF rejected nearly all parts of the budget and said the budget was misguided and made neo-liberal reliance on market forces to promote economic growth and solve inequality.
"We further view his budget as still committed to the protection of capitalist accumulation which has not led over the past 24 years to any meaningful investments. This is characterised by refusing to raise corporate income tax, instead of punishing consumers by raising value-added tax, fuel levies as well as personal income tax," the EFF said.
The single biggest talking point to come out of the budget speech is the first increase in Value Added Tax (VAT) since 1993. On 1 April VAT will increase from 14% to 15%.
The EFF slammed the R19 billion allocated to fund free tertiary education for poor students as woefully inadequate. The party said its own figures showed that students needed R83 billion for the current financial year.
The EFF welcomed increases to child support and social grants.
Do you have a story to share with Briefly? Visit our Facebook page where you can send us a message or leave us a comment. Your story could be shared online.
To stay up to date with the latest news, download our news app on GooglePlay or iTunes today.