Maynier lays down expectations for Mboweni
Cape Town - The DA has urged new finance minister Tito Mboweni to deal with a "six pack" of challenges in his maiden mid-term budget policy statement.
DA spokesperson on Finance David Maynier said: "President Cyril Ramaphosa’s “new path” of economic growth, employment and transformation was shattered when the economy slipped into recession in South Africa.
"We are now in deep economic trouble, with ordinary people, experiencing an income squeeze, following tax increases and petrol price hikes, and with 9.6 million people who do not have jobs, or who have given up looking for jobs, in South Africa.
"What this means is that the Minister of Finance, Tito Mboweni’s, 'mini-moon' is over and he faces a 'six pack' of challenges that will have to be dealt with in his 'maiden' medium-term Budget Policy Statement, which will be delivered on 24 October 2018 in Parliament."
Maynier stated the following as the DA's proposals:
- "Define himself by explaining his flirtation with radical economic transformation and clarifying his views on extending state ownership in the mining sector, establishing a state bank and creating a sovereign wealth fund;
- "Present a credible plan to boost economic growth to at least 3% by announcing a package of structural reforms designed to increase private sector investment;
- "Hold the fiscal line by announcing a comprehensive spending review and presenting a credible plan to stabilise national debt at, or below, 50% of GDP;
- "Restore public trust by announcing that the Commissioner of the South African Revenue Service, Tom Moyane, will be removed and a new appointment will be made without delay;
- "Announcing that the national airline will be placed in business rescue with a view to privatising, or part privatising, South African Airways; and
- "Disclosing the terms and conditions of the confidential R33.4 billion loan to Eskom from the Chinese Development Bank."
South Africa has had seven minister since 1996:
Trevor Manuel: 1996 - 2009.
Pravin Gordhan: 2009 - 2014 (two stints)
Nhlanhla Nene: 2014 - 2015 (second stint included a few months in 2018)
Des Van Rooyen: a weekend in December 2015.
Malusi Gigaba: 2017-2018
Incumbent Mboweni will deliver his first mid-term budget policy statement this Wednesday.