COSATU Keep Close Eye on Upcoming Budget Speech, Threaten Legal Action if Priorities Are Ignored

• The Congress of South African Trade Unions (COSATU) will be keeping a close eye on the budget speech
• COSATU want the Finance Minister's budget speech to speak to the poor and the working-class
• The union marched to parliament ahead of the medium-term budget policy statement

CAPE TOWN – All eyes are on Enoch Godongwana ahead of the medium-term budget policy statement (MTBPS).

The Minister of Finance will table the budget in the National Assembly, and the Congress of South African Trade Unions (COSATU) are particularly interested in what he will have to say,

COSATU started marching towards parliament from the morning ahead of the speech.

The speech, which is dubbed the mini-budget, is the first since the formation of the Government of National Unity (GNU).

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COSATU concerned about unemployment rate

COSATU, as well as other civil society organisations, is particularly interested in the minister's comments about the country’s high unemployment rate.

They also want the government to abolish “harsh economic policies,” which they say are stifling growth and job creation.

Malvern de Bruyn from COSATU said they wanted the minister to table a budget that addresses the needs of the poor and working class.

"What we've seen is a budget that doesn't speak to us, but a budget that speaks to capital. As workers and poor communities, we are unhappy, we are angry, we are frustrated.

We want the Finance Minister to give us a budget that at least can accommodate our needs," he said.

The union also expressed concern over potential budget cuts. They also outlined several interventions which they hoped would guide the government’s budget policy

This includes boosting infrastructure investment and providing support for State-Owned Enterprises (SOEs).

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COSATU threaten legal action

The union are also keeping an eye on the budget speech to see if it implements some of the priorities stated in the Government of National Unity statement of intent.

General Secretary Solly Phetoe said they would seek legal action if this doesn’t happen.

Economist shares thoughts on upcoming budget speech

Economist Dawie Roodt spoke exclusively to Briefly News about his hopes and expectations from Enoch Godongwana's address.

Roodt explained that he was less pessimistic ahead of the Finance Minister’s Medium-Term Budget Policy Statement (MTBPS).

The mini-budget is the first since the Government of National Unity (GNU) was formed after the national general elections.

Source: Briefly News