'Tough talk but no tough action': opposition MPs slam Mboweni

timeslive.co.za

- timeslive.co.za | 2 weeks ago

DA MP Geordin Hill-Lewis said finance minister Tito Mboweni's medium-term budget policy statement avoided the tough decisions required to reduce the rising costs of servicing government debt.

Mboweni's mini-budget showed that the government would be spending a whopping R796bn on its debt, which is now at R3-trillion and will balloon to R4. 5-trillion in the next three years.

As tax revenue falls and expenditure increases – driven by bailouts to struggling state- owned entities – national debt is heading beyond 70% of GDP.

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