The Congress of South African Trade Unions (COSATU) has expressed its disappointment in Tito Mboweni’s budget speech on Wednesday. The trade union says the speech had no clear plan to tackle the massive crises that threaten the survival of the state and risks plunging the economy back into recession.
Cosatu’s Parliamentary Coordinator, Matthew Parks, says the budget speech had no implementation plan on how the government will deal with unemployment, corruption, and wasteful expenditure.
“It was quite a worrying and disappointing lacklustre speech from the government, which didn’t really put a sense of a plan on how we’re going to turn the ship around. We’ve been making many proposals over the years on how to save wasteful expenditure,” says Parks.
Parks says he believes there are several possible solutions to debt of state-owned enterprises and therefore privatization is not one to consider.