Streaming issues? Report here
John Maytham 2019 1500 BW John Maytham 2019 1500 BW
Afternoon Drive with John Maytham
15:00 - 18:00
volume_up
volume_mute

Up Next: The Money Show with Bruce Whitfield
See full line-up
Afternoon Drive with John Maytham
15:00 - 18:00
Home
arrow_forward
Politics

Top reasons why Tito Mboweni's Budget will be one of SA's toughest to date

20 February 2019 11:48 AM
Tags:
finance minister
#Budget2019
Tito Mbooweni

Finance Minister Tito Mboweni will on Wednesday present what’s being dubbed the most difficult Budget speech in the past decade.

Finance Minister Tito Mboweni's maiden Budget speech is expected to be one of South Africa's toughest yet.

Mboweni's budget on Wednesday will have to juggle questions about unemployment, inflation, tax increases, cost-cutting, Eskom's energy crisis, revenue at SOEs, the public sector wage bill and more.

Read: Mboweni will have to make tough political choices in Budget 2019 - economist

Presenter Eusebius McKaiser hosted a panel of economic experts to explore the difficult task ahead for Mboweni and his team.

Elections and state capture

Political economist Lebohang Pheko says Mboweni will have to present a unifying budget in order to restore confidence in the fiscus in light of the upcoming May elections, poor economic growth and revelations of state looting.

Of course, it's an election year so he's got to keep a lot people very happy. Increasing taxes in a year like this wouldn't be a great move.

Lebohang Pheko, Political economist -Trade Collective

He's also trying to redeem himself and this administration. It's probably one of the toughest budgets will ever hear.

Lebohang Pheko, Political economist -Trade Collective

Competing priorities

Political Economist Siya Biniza says government has a tough balancing act to achieve in the budget break down.

He says government needs to commit itself to tightening spending in order to tackle growing public debt, while also supporting economic growth and job creation.

Government has to commit itself towards fiscal consolidation, but at the same time it has to support growth and employment. It's really a catch 22... Where is the money going to come from?

Siya Biniza, Finance and operations director - Political Economy Southern Africa

There's very limited fiscal place.

Siya Biniza, Finance and operations director - Political Economy Southern Africa

Managing expectations

Chief economist Lullu Krugel says trade unions, small businesses, government employees, ratings agencies, international investors and many other interest groups are watching closely for Mboweni's action plan.

All of these groups believe their interest should take precedence, she says.

Tito Mboweni has the toughest task this afternoon. It's definitely the toughest budget since the financial crash in 2018.

Lullu Krugel, Chief Economist - PwC South Africa

Everybody has different views of what should come out of this budget. Everybody will have different interests. At the end of the day, he will not be able to please everybody.

Lullu Krugel, Chief Economist - PwC South Africa

Listen to the in-depth discussion on The Eusebius McKaiser Show:


20 February 2019 11:48 AM
Tags:
finance minister
#Budget2019
Tito Mbooweni

More from Politics

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

Alcohol gender-based violence gbv 123rf 123rflifestyle domestic abuse

How to change boys' perception of what it means to be 'a real man'

5 August 2020 9:52 AM

Refilwe speaks to professors Malose Langa and Kopano Ratele about masculinity and raising upstanding men.

Share this:
Read More arrow_forward

200804 Zweli Mkhize

[WATCH] Minister Mkhize Covid-19 update 'we're not out of the woods yet'

5 August 2020 7:21 AM

On Wednesday morning Health Minister Zweli Mkhize delivered an update on the Covid-19 pandemic in South Africa.

Share this:
Read More arrow_forward

Serveusprotest_1352

Impact of divestment will be dire - we need govt action to restore trust in SA

4 August 2020 6:49 PM

'You have to wonder, where is leadership in our society now?' Bruce Whitfield interviews the CDE's Ann Bernstein.

Share this:
Read More arrow_forward

matshela-koko-ewn-picjpg

Former Eskom exec Matshela Koko dismisses SIU moves as 'bad publicity stunt'

4 August 2020 5:09 PM

Former Eskom Group CEO Matshela Koko has scoffed at plans by Eskom and the Special Investigating Unit (SIU) to recoup almost R4 billion diverted illegally from the power utility.

Share this:
Read More arrow_forward

Surgical mask sanitiser gym fitness dumbell 123rf 123rfbusiness 123rflifestyle

Gyms employ 29 000 South Africans. They’re taking to the streets in desperation

4 August 2020 3:26 PM

"We have a 29-page set of world-class safety protocols. We want to get back!" pleads FitSA spokesperson Grant Austin.

Share this:
Read More arrow_forward

200727citygif

City of Cape Town's Malusi Booi: Political agenda behind land invasion protests

4 August 2020 1:32 PM

Human Settlements Mayco Member Malusi Booi national government and SAPS are not assisting the City in resolving the issues.

Share this:
Read More arrow_forward

eskom-logojfif

'Eskom is under no illusion that we will recover this R4 billion' - Mantshantsha

4 August 2020 11:54 AM

Eskom's spokesperson Sikonathi Mantshantsha says a 140-page document with all the evidence has been submitted to the High Court.

Share this:
Read More arrow_forward

Candle Eskom 123rf 123rfbusiness 123rflifestyle

Eskom wants its stolen money back – from Koko, Molefe, Singh, etc and the Guptas

3 August 2020 6:27 PM

The process to recover the looted billions has begun. Bruce Whitfield talks to Steven Powell, Director in Forensics at ENS Africa.

Share this:
Read More arrow_forward

Zimbabwe flag 123rf

Zim govt 'clamps down on dissent' after Covid corruption exposés spark protests

3 August 2020 5:13 PM

Zimbabwe is making international headlines as authorities arrest citizens for protesting against alleged corruption by the government.

Share this:
Read More arrow_forward