The IFP wants Mboweni to do away with bailouts and cut the public sector wage bill.
The Inkatha Freedom Party (IFP) has encouraged new Finance Minister Tito Mboweni to consider several ideas when he delivers his medium-term budget speech on Wednesday, 24 October 2018.
The IFP said Mboweni needs to focus on “cutting all perks” for Cabinet Ministers and their Deputies and review the ministerial handbook to ensure austerity measures are implemented and suspend the fuel levy, until such a time our economy grows favourably and our currency strengthens.
The party has further called on the minister to roll-out an extensive programme of public-private partnerships with favourable investment conditions and including, but not limited to tax breaks for investment projects and promoting all local, emerging and small to medium enterprises as a key driver in restoring South Africa’s ailing economy, and creating millions of jobs.
The party expects the speech to address various aspects including;
Rescuing SOEs through public-private partnerships, government strategy to rescue VBS to assist the poor victims of the thieving cabal of corrupt politicians and associates.
“We also expect the minister to announce an economic recovery plan to steer us out if the current quagmire including but not limited to the reduction of government spending on all spheres”, said spokesperson Mkhuleko Hlengwa.
“Now is the time for Minister Mboweni to show a strong hand and decisive leadership by trimming the fat of government – as he delivers his maiden and yet most important speech in Parliament”, added Hlengwa.