{"id":75751,"date":"2024-10-30T18:18:00","date_gmt":"2024-10-30T18:18:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/da-welcomes-budget-eff-decries-its-prioritising-of-private-sector-profits"},"modified":"2024-10-30T18:18:00","modified_gmt":"2024-10-30T18:18:00","slug":"da-welcomes-budget-eff-decries-its-prioritising-of-private-sector-profits","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/da-welcomes-budget-eff-decries-its-prioritising-of-private-sector-profits","title":{"rendered":"DA welcomes budget, EFF decries its ‘prioritising of private sector profits’"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The DA in broadly welcoming the medium term budget policy statement on Wednesday gave itself a pat on the back for what it says was its tireless work in government.<\/p>\n

With it being a critical part of the GNU, the DA said it welcomes the budget delivered by finance minister Enoch Godongwana which focused on economic reform and private sector involvement.<\/p>\n

Its spokespersons on finance, Wendy Alexander and Dr Mark Burke, said the budget reflected the DA’s influence in guiding policy in the GNU.<\/p>\n

\u201cWhile today’s announcement marks a new chapter in South Africa’s economic trajectory, we have called for these reforms for more than a decade. We have, since the 2008 financial crisis, called for limits on government debt, as well as measures to attract foreign direct investment,\u201d said Alexander and Burke.<\/p>\n

\u201cTo the millions of South Africans who stood in queues to vote DA on May 29: this budget is a testament to our tireless work in government and our work in opposition before that. We will continue to deliver more.\u201d<\/p>\n

The DA said it welcomed the announced to reduce government debt by focusing expenditure on critical service delivery programmes as well as the halting of SOE bailouts.<\/p>\n

\u201cFollowing hundreds of billions of rand gone to delinquent SOEs, a red line has finally been drawn. Government will no longer pump dwindling tax revenue into failed parastatals; it will spend citizen\u2019s hard-earned money on delivering quality services to all, with a focus on building towards the future,\u201d the party said.<\/p>\n

While the DA beamed at the focus on involving the private sector as the government’s partner in economic reform, the EFF was frothing at the mouth, saying the decision essentially prioritised making profits for the private sector.<\/p>\n

\u201cThis policy statement advocates programmes that entrench racialised, apartheid-era economic policies, prioritising profits for the racist private sector over job creation, sustainable development and meaningful economic growth,\u201d said the EFF.<\/p>\n

The coalition between the ANC and the DA in the GNU, according to the EFF, \u201cshamelessly puts the interests of the few above the desperate majority of unemployed youth\u201d.<\/p>\n

It said it noted that the budget essentially buried the National Development Plan (NDP) by failing to mention anywhere in the statement.<\/p>\n

\u201cAdditionally, there is no recognition of the vital role a state bank could play in promoting financial inclusivity or any commitment to the finalisation of a sovereign wealth fund to secure national economic stability and future prosperity,\u201d said the party in a statement.<\/p>\n

The ANC described the budget as \u201cresolute\u201d in setting out a pro-growth agenda which will deal with the country’s prolonged economic and fiscal weaknesses.<\/p>\n

\u201cThis budget is more than a fiscal guideline; it reaffirms our unwavering commitment to building a capable, ethical and developmental state that steadily advances towards a prosperous and inclusive South Africa, rooted in economic empowerment and social justice,\u201d said party spokesperson Mahlengi Bhengu-Motsiri.<\/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 in broadly welcoming the medium term budget policy statement on Wednesday gave itself a pat on the back for what it says was its tireless work in government. With it being a critical part of the GNU, the DA said it welcomes the budget delivered by finance minister Enoch Godongwana […]<\/p>\n","protected":false},"author":84,"featured_media":75750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,377],"tags":[274,315,275],"class_list":["post-75751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nDA welcomes budget, EFF decries its 'prioritising of private sector profits' - South Africa<\/title>\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\/da-welcomes-budget-eff-decries-its-prioritising-of-private-sector-profits\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DA welcomes budget, EFF decries its 'prioritising of private sector profits'\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Africa. The DA in broadly welcoming the medium term budget policy statement on Wednesday gave itself a pat on the back for what it says was its tireless work in government. 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