{"id":61306,"date":"2024-02-19T17:04:32","date_gmt":"2024-02-19T17:04:32","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages"},"modified":"2024-02-20T16:02:00","modified_gmt":"2024-02-20T16:02:00","slug":"das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages","title":{"rendered":"DA’s alternative budget: jobs, end load-shedding, debt reduction & protecting social wages"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The DA presented its alternative budget that the party says is anchored in four core priorities and focuses on sustainable economic growth, ending load-shedding, achieving fiscal stability and supporting vulnerable South Africans.<\/p>\n

The DA\u2019s alternative budget was presented to journalists on Monday, two days before finance minister Enoch Godongwana tables this year\u2019s budget in parliament, which sits at the Cape Town City Hall because of fire-damaged parliamentary buildings. The official opposition says the country\u2019s economy is reeling under government-induced crises, and economic growth has been stunted by a burdensome regulatory environment, a deficient skills base and low labour market participation rates, a shrinking tax base, overburdened public and private infrastructure, diminishing capital formation and alarming crime rates.<\/p>\n

The party says given the dire state of affairs, immediate, decisive action is imperative.<\/p>\n

DA shadow minister for finance Dion George said the party\u2019s alternative proposal presents an adjusted expenditure framework that reconfigures government spending to redirect the fiscal trajectory from the \u201ccurrent cliff\u201d towards a more sustainable future. \u201cThe fiscal interventions we propose will enable our economy to grow and generate the jobs South Africans desperately need,\u201d he said.<\/p>\n

The four core policy priorities are:<\/p>\n

Establishing the foundations for sustainable economic growth that generates jobs;<\/p>\n

Revitalising the electricity sector to address power outages;<\/p>\n

Achieving fiscal stability through controlled government expenditure and debt reduction; and<\/p>\n

Supporting vulnerable South Africans by protecting social wages.<\/p>\n

George said major reforms are required for South Africa to recover, and market-oriented reform starts by removing government-imposed barriers to growth.<\/p>\n

\u201cA government that is effective at serving the public, limits regulation and focuses on delivering essential services. This is what will create a dynamic enterprising economy, with market forces and individual freedom at the forefront,\u201d said George.<\/p>\n

South Africa\u2019s fiscal environment remains characterised by unsustainable debt, persistent deficit spending, slow economic growth, stubbornly high unemployment, decelerating foreign and domestic private capital formation, declining GDP per capita, escalating living costs, food insecurity and political volatility, he said.<\/p>\n

George added these circumstances are compounded by factors that fall under government purview such as uncertain private property rights, onerous labour market legislation, inadequate national and local governance, and a large and inefficient public sector dominated by dysfunctional monopolistic state-owned enterprises.<\/p>\n

To establish resilience and stimulate economic growth, the DA\u2019s alternative proposes \u201cinnovative solutions\u201d to attract foreign capital, encourage domestic savings, revitalise state-owned entities, fix crumbling infrastructure, enhance labour market participation, bolster corruption busting institutions and facilitate the expansion of small and large business sectors.<\/p>\n

On rolling blackouts, the DA reiterates its call for the unbundling of Eskom and the opening of the energy sector to Independent Power Producers (IPPs), and it says Eskom must prioritise the streamlining of its procurement processes in the interim while letting in private capacity to power a growing South Africa.<\/p>\n

\u201cBy opening the energy sector, innovation and voluntary action will keep the lights on and the wheels of the economy moving towards the growth rate needed to address declining economic participation,\u201d said Ashor Sarupen, George\u2019s deputy.<\/p>\n

Sarupen said the DA\u2019s proposal to ease the country’s debt crisis is anchored by a framework of fiscal prudence that prioritises a primary budget surplus. \u201cOur focus concurrently lays the foundation for economic expansion and job creation.\u201d<\/p>\n

On supporting vulnerable and poor South Africans, among the DA\u2019s proposals is setting out several affordable proposals for tax relief.<\/p>\n

\u201cGiven the current cost of living emergency, fuel taxes and levies must be reduced, and an expanded zero-rated VAT food basket must be considered now and not deferred.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The DA presented its alternative budget that the party says is anchored in four core priorities and focuses on sustainable economic growth, ending load-shedding, achieving fiscal stability and supporting vulnerable South Africans. The DA\u2019s alternative budget was presented to journalists on Monday, two days before finance minister Enoch Godongwana tables this year\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":61305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[274,315,275],"class_list":["post-61306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nDA's alternative budget: jobs, end load-shedding, debt reduction & protecting social wages - South Africa<\/title>\n<meta name=\"description\" content=\"The DA presented its alternative budget that the party says is anchored in four core priorities and focuses on sustainab ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DA's alternative budget: jobs, end load-shedding, debt reduction & protecting social wages\" \/>\n<meta property=\"og:description\" content=\"The DA presented its alternative budget that the party says is anchored in four core priorities and focuses on sustainab ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-19T17:04:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-20T16:02:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1708350677.024105.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"496\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DA’s alternative budget: jobs, end load-shedding, debt reduction & protecting social wages\",\"datePublished\":\"2024-02-19T17:04:32+00:00\",\"dateModified\":\"2024-02-20T16:02:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\"},\"wordCount\":619,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1708350677.024105.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/das-alternative-budget-jobs-end-load-shedding-debt-reduction-protecting-social-wages\",\"name\":\"DA's alternative budget: jobs, end load-shedding, debt reduction & protecting social wages - 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