Parliament

 

South Africa is held hostage to the toxic politics of the ANC

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If it showed anything, the recent medium-term budget policy statement has proven that South Africa does not have a government capable of dealing honestly and head on with the developmental crisis that the country finds itself in. It will not have such a government for some time, at least not until the 2019 general election..
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Cabinet Ministers set for 4% pay rise as reward for tanking the economy

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Unfortunately, it’s not April Fool’s Day. We are deadly serious when we tell you that political heavyweights who’ve overseen a slump in the South African economy are set to receive a 4% pay rise. In a year of recession, junk-status and a declared tax shortfall of R50bn, it seems like our top brass have found..
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Parastatal waste equals tax shortfall: Treasury will need to find new resources to close the budget gap

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The R50‑billion shortfall in tax revenue that the treasury will need to find elsewhere to plug the budget gap is close to how much state-owned entities (SOEs) have thrown down the drain in the past financial year. The auditor general, Kimi Makwetu, released national and provincial audit results on Wednesday. Although the number of clean..
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Poverty in SA a ‘direct baby’ of apartheid – Zuma

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Poverty is a direct baby of apartheid and not the making of the ANC-led government, said President Jacob Zuma in Parliament on Thursday. Zuma was responding to questions when he was confronted by statistics about the gradual increase in poverty levels in the country. In August this year, Statistics South Africa released the Poverty Trends..
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February’s Main Budget Could Be A Total ‘Bloodbath’ Judging Gigaba’s Mini-Budget

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The biggest day in Malusi Gigaba’s political career so far was strongly contrasted yesterday by a vehemently negative market reaction. While being honest in his assessment of the state of the South African economy, the Finance Minister provided little hope that he has a plan to halt the bleeding. And as Matthew Lester points out below, if Gigaba remains Finance Minister until..
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February’s Main Budget Could Be A Total ‘Bloodbath’ Judging Gigaba’s Mini-Budget

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Matthew Lester The biggest day in Malusi Gigaba’s political career so far was strongly contrasted yesterday by a vehemently negative market reaction. While being honest in his assessment of the state of the South African economy, the Finance Minister provided little hope that he has a plan to halt the bleeding. And as Matthew Lester points out below, if Gigaba remains Finance..
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‘Pay back the money! She is a thief!’ ANC chants at De Lille during council meeting

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Patricia De Lille on Thursday said she has not stolen a single cent, insisting she had enough money to even consider lending money to the City of Cape Town – at a low interest rate – to deal with its water crisis. “I don’t need money from anyone,” she said ahead of her address during..
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Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

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Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of..
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Gigaba’s first test: Can he ace the mid-term budget?

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Finance Minister Malusi Gigaba is in an unenviable position. In his maiden budget – today’s medium-term budget policy statement – he must confront, among other things, low economic growth, a tax revenue hole big enough to fly a plane through and the budgetary consequences of struggling state-owned enterprises. These issues are some of the chief..
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Dudu Myeni finaly fired as SAA chair

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Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson JB Magwaza who has been appointed as the new board chairperson. It appears that members..
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