Will the 2020 budget promise SA secure ownership rights and freedom? – CHRIS HATTINGH
Minister of Finance Tito Mboweni will deliver his 2020 budget speech today. South Africa enters a new decade with a growth forecast of only 0.7% (according to ratings agency Moody’s). The general mood surrounding this week’s budget speech is one of dread; but if the right decisions are taken, if the government takes ownership of its role, and starts to roll back the controls over South Africans’ businesses and wallets, it will indicate that they are committed to turning things around. It will mean that the government is taking South Africans’ freedom seriously. If the necessary hard decisions are not made, the taxpayer may well become SA’s biggest export.
Minister Mboweni should be commended for his enlightened, common-sense suggestions over the last couple of years (most noteworthy was the 2019 Economic Strategy from National Treasury). This month’s budget speech provides him with the perfect platform to hold the government to account, and to indicate to South Africans that the country’s declining economic situation is receiving serious attention.
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Publish date: 27 February 2020
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.