'ANC Government will continue milking the cow until there’s no milk at all'

FILE: Malusi Gigaba. Picture: AFP

Under the ANC Government, there will be a continuation of milking the cow until there is no milk at all.

Lumkile Mondi, Wits

There’s nothing about nuclear… we’ve been very consistent… we must live within our means.

Sfiso Buthelezi, Deputy Finance Minister

It was a very honest MTBPS.

Andrew Donaldson, former Deputy Director General

Finance Minister Malusi Gigaba delivered his maiden Medium Term Budget Policy Statement in Parliament on Wednesday.

South Africans, and financial markets, were not too pleased.

The rand weakened more than 20 cents to the US dollar during Gigaba’s speech.

The Money Show’s Bruce Whitfield interviewed Sfiso Buthelezi (Deputy Finance Minister), Andrew Donaldson (former Deputy Director General) and Lumkile Mondi (Senior Lecturer at School of Economics and Business Science of the University of the Witwatersrand).

Listen to the interviews in the audio below (and/or scroll down for more quotes from it).

The Minister did very well by meeting our expectations. Our expectations were that nothing new was going to come out of the budget today.

Lumkile Mondi, Wits

Since 1994 we are failing very rapidly.

Lumkile Mondi, Wits

We as Government understand there are things we must do, and we’re starting to do those things.

Sfiso Buthelezi, Deputy Finance Minister

I expect ratings agencies to wait for what happens in February.

Andrew Donaldson, former Deputy Director General

We’re going to need to deal forcefully with the big challenges we face with state-owned companies.

Andrew Donaldson, former Deputy Director General

We’re projecting just 1.3% growth in three years’ time…

Andrew Donaldson, former Deputy Director General

We’re probably close to the limits of our tax rates.

Andrew Donaldson, former Deputy Director General

We should commend the monetary authorities that we are seeing lower price increases.

Andrew Donaldson, former Deputy Director General

We’re going to find ourselves surprised as we begin to climb out of this malaise we’ve been in over the past few years.

Andrew Donaldson, former Deputy Director General

There is scope for broadening private participation in the electricity sector.

Andrew Donaldson, former Deputy Director General

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This article first appeared on 702 : 'ANC Government will continue milking the cow until there’s no milk at all'


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