Vusi Thembekwayo is amongst those who are critical of the MTBPS, as delivered by Minister Tito Mboweni, particularly the additional R10.5 billion allocation to SAA.
Vusi Thembekwayo took to Twitter on Wednesday, 28 October 2020, to reflect on Minister of Finance, Tito Mboweni’s Medium-Term Budget Policy Statement (MTBPS). The address was expected to provide a clear course of action on how the country will remedy the economic downturn, which was partially caused by the COVID-19 pandemic and lockdown restrictions. Thembekwayo echoed the voices of those who raised concerns over certain aspects of the budget and its allocation.
According to him, the MTBPS was a mere “lecture in economics,” rather than what Mboweni had promised – a map to guide the country out of the dire economic situation. True to the fears of many, Mboweni announced that R10.5 billion would be allocated to the embattled SAA.
Thembekwayo’s suggestion was to have the money allocated to investing and funding small, medium and macro enterprises (SMMEs). He believes that not only would that have been a better spend, but it would align with the promised 800 000 job opportunities, as noted by the president in the Economic Recovery Plan.
See the posts below.
Why are some of these MPs clapping at the fact that the LandBank is broke & an additional R10.5Bn is going to SAA?
This R10.5Bn is in addition to the R16Bn that was made available at the #MTBPS2019
How many SMMEs could you support with that money? How many jobs?
— VT (@VusiThembekwayo) October 28, 2020
Uninspiring.
Unimaginative.
Unnecessarily verbose.It felt more like a lecture on economics than a policy statement for an economy in chronic crisis.
Maybe Minister came intent on educating his fellow MPs about how economies work. #MTBPS2020
— VT (@VusiThembekwayo) October 28, 2020
Sabelo Makhubo
s.makhubo@politicalanalysis.co.za
