Cosatu has mixed reaction to Mboweni's budget speech

Here's some reaction on the medium-term budget from labour. Shahan Ramkissoon spoke to Cosatu's first deputy president, Michael Shingange. Courtesy #DStv403

JOHANNESBURG - Cosatu had a mixed reaction to the medium-term budget policy statement on Wednesday after the presentation by Finance Minister Tito Mboweni.

Cosatu's first deputy president, Michael Shingange, said the union wanted more specific details -- including which resources have been allocated and timeframes -- associated with the plan announced by President Cyril Ramaphosa to affect economic recovery.

Shingange said the union also wanted more information on infrastructure areas like rail and water and what processes will be implemented to curb financial misconduct.

READ: SAA gets R10.5-billion government bailout

He said the government's strategy of cutting spending will not work to stimulate the economy.

The additional funds allocated to state-owned enterprises, including SAA, were not welcomed by the union leader.

"We understand that SAA has workers whose jobs must be rescued but the R10,5-billion that was announced now is not money that is guaranteeing that the jobs will be saved, it's still to pay those business-rescue practitioners," he said.

READ: Opposition parties react to MTBPS

"You're having the people that are carrying this nation for the past eight months through the pandemic, in this country: nothing is coming for them.

No incentive, they've risked their lives, they've lost their lives, families have lost breadwinners, some of them have risked their jobs but nothing is coming to them, they are told they must give more."

Shingange said provocations to labour will not be viewed kindly.

Source
eNCA