UDM: Budget not all bad

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Copy of GordhanBudget 0032b GCIS Finance Minister Pravin Gordhan.

Parliament - Not all of Finance Minister Pravin Gordhan's 2013/14 Budget tabled in Parliament on Wednesday is “bad news”, the UDM said.

“Considering the challenges he is faced with, he has presented us with a responsible budget,” said United Democratic Movement deputy secretary general Nqabayomzi Kwankwa.

Gordhan had the difficult task of allocating funds for a government which was “doing a lot more, but doing it less well”.

With a budget deficit of 5.2 percent, a current account deficit of about six percent, and government debt of just over 40 percent, it was clear that there was very little room to manoeuvre.

To embark on fiscal consolidation, the government would have to root out corruption and wasteful spending.

However, the UDM was concerned about the negative affect of the increased fuel levy, together with the constant rise in the fuel price on the cost of living for South Africans - especially the poor, Kwankwa said. - Sapa

Click here for IOL’s full coverage of the Budget


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