EFF, Unions ‘to stage picket’ ahead of Finance Minister Enoch Godongwana’s budget speech

Enoch Godongwana

Cape Town – Minister of Finance Enoch Godongwana is expected to deliver his first national Budget Speech on Wednesday.

High on the agenda for many South Africans are the steps that need to be taken to address the deep poverty, unemployment and inequality.

Meanwhile, some political parties and labour unions have their own expectations and are set to picket outside parliament during Godongwana’s speech.

According to EWN, the Economic Freedom Fighters (EFF) wants the South African government to stop taking loans from institutions like the World Bank and the International Monetary Fund.

“These loans will be inherited by future generations, they keep us dependent on the West and this means we will never determine our own affairs as a country,” the report quoted EFF’s spokesperson Lee-Ann Mathys as saying.

ALSO READ: Finance Minister Godongwana concerned over fuel price hikes, calls for reforms

Similarly, the South African Federation of Trade Unions (SAFTU) will lead a protest outside of parliament.

“The South African Federation of Trade Unions (Saftu) and its affiliates will hold a protest ahead of the country’s national budget speech on Wednesday (23 February), with the group calling for the introduction of a basic income grant and a wealth tax alongside other changes,” Businesstech reported.

In a statement, SAFTU said it opposes neoliberal solutions to the socio-economic crisis of capitalism.
“From the time African National Congress (ANC) took power in the 1990s, it has demonstrated its commitment to capitalism and market-oriented solutions by accepting macro-economic and fiscal policy models dictated by the financial institutions of neoliberalism — the World Bank (WB) and the International Monetary Fund (IMF),” SAFTU said.
SAFTU and EFF’s remarks come after the International Monetary Fund granted South Africa a $4.3 billion (R70 billion) loan to support job creation and protection for businesses impacted by the Covid-19 pandemic in July 2020, according to Fin24.
They also come after the World Bank approved South Africa’s request for a $750 million (about R11.4 billion) development policy loan earlier this year to help the country’s economic recovery efforts.
“The World Bank Group Board of Directors approved SA’s request for an R11 billion loan. National Treasury reasons for the loan are misdirected in the absence of coherent economic policy reform. The EFF maintains that SA does not have economic reform policy,” said the EFF in a statement.

Follow African Insider on Facebook, Twitter and Instagram

Picture: Getty Images 

For more African news, visit Africaninsider.com 

Compiled by Sinothando Siyolo 

Article written by