Budget Speech 2021: Public sector wage cuts in focus ahead of Mboweniâs speech
By Mwangi Githahu
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Cape Town - Whether or not Finance Minister Tito Mboweni will announce far-reaching public sector wage cuts is the main point ahead of his Budget speech, according to forecasts from economists, political analysts, unions, business and farmersâ groups.
Economist Dawie Roodt said: âMinister Mboweniâs Budget is not going to be a pretty picture, as the state is falling apart financially. He must cut spending on the public service wage bill or at least slow it down considerably, but will he be able to get away with this politically? That is the crux of the matter.
Mboweni must cut spending âwithout fear or favourâ
Mboweni must cut spending âwithout fear or favourâ
By Lloyd Phillips
February 23, 2021 at 6:37 pm
Representatives of organised agriculture in South Africa have expressed their expectations for Finance Minister Tito Mboweniâs 2021/2022 National Budget Speech, which he is presenting on Wednesday, 24 February.
Photo: Flickr
With the Minister of Finance Tito Mboweni due to present his 2021/2022 National Budget Speech on Wednesday, 24 February, stakeholders in South Africaâs agriculture sector have expressed their expectations for this yearâs budget.
In a statement issued by Agri SA, the organisationâs head of economics, Kulani Siweya, said that with the South African fiscus under severe strain and a further downgrade of the economy by credit ratings agencies to be avoided âat all costsâ, Mboweniâs 2021/2022 budget speech provided an opportunity for a return to best practice.
Agri SA is looking forward to the minister of finance, Tito Mboweni’s National Budget Speech on February 24. The balance between government income (tax revenue) and expenditure is at the heart of the government budget, says Kulani Siweya, Agri SA head of economics. “Rating agencies and financial market role players will want to see a commitment to fiscal consolidation. The fiscus is under severe strain and a further downgrade from credit agencies must be avoided at all cost.”