Johannesburg - The mid-term budget speech delivered by Finance Minister Nhlanhla Nene on Wednesday lacks direction, the PAC said.
“The PAC is disappointed by the Medium Term Budget Statement by Minister Nhlanhla Nene. It continues in the same direction to nowhere,” Pan Africanist Congress of Azania deputy president Sbusiso Xaba said in a statement.
“The budget without a vision of nation building... only accelerates this country to its obvious destination, which is bankruptcy.”
He said the vision expressed in the National Development Plan (NDP) and reinforced by the budget did not encourage national sovereignty.
Xaba said it locked the nation into a colonial relationship with super powers from the East and the West.
“The PAC is furthermore agitated by the fact that this is a consumer budget, driven by the desire to give away national wealth to foreign corporations through privatisation of state-owned companies, starting with Vodacom,” Xaba said.
He said the PAC was worried about the continuous extension of taxes through various schemes such e-tolls and new pension rules. - Sapa