South Africa: Adoption of Emergency COVID-19 Budget One Step Closer


Parliament's finance committees on Tuesday adopted the report on the revised fiscal framework that underpins Finance Minister Tito Mboweni's emergency Covid-19 Budget. The DA, EFF and Freedom Front Plus rejected the report, which was carried by ANC numbers in a signal that the Special Adjustment Budget is to be approved.

It was about whether "welcoming" the R3-billion bailout of the Land Bank should rather be "noting" because a bailout by its nature indicates failure. Or whether the state should play an active role in the economy, rather than just creating an enabling environment.

It was about whether to call on Finance Minister Tito Mboweni to brief the committees on the low take-up of the R200-billion loan guarantee scheme, as suggested by DA MP Geordin Hill-Lewis, and Standing Committee on Finance chairperson Joe Maswanganyi's quick retort, "So now you want an active state" in an echo of the earlier debate.

And it was about getting a full briefing on the zero-based budgeting approach Mboweni had talked about when tabling the Special Adjustment Budget on 24 June. Some discussion unfolded over whether this was an actual Cabinet decision, or just a ministerial statement.

That Special Adjustment Budget was a...

More From: Daily Maverick

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.