Budget Speech rich GOOD

GOOD Secretary general says The National Budget Speech is for rich people in society, not the poor. Image credit: AdobeStock

Budget Speech 2023: It is for the rich 

GOOD Secretary general says The National Budget Speech is for rich people in society

Budget Speech rich GOOD

GOOD Secretary general says The National Budget Speech is for rich people in society, not the poor. Image credit: AdobeStock

GOOD MPL and Secretary General Brett Herron said the 2023 Budget Speech is reasonably good for the rich people in society but contains slim pickings for the poor with no increase in the lamentable R350 social grant.

BUDGET SPEECH CONTAINS SLIM PICKINGS

He said Finance Enoch Godongwana seems trapped in a pattern of adding a little extra to last year’s line items, which added a little extra to the previous years.

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Budget Speech rich people
GOOD Secretary General says Finance Minister Enoch Godongwana left grumps for the kids and pensioners. Image: Government/Stock/Canva

“This spending pattern has been a key driver of widening inequality for decades,” says Herron.

He says the Budget Speech is good enough for the rich people in society but does not benefit the poor, especially with the meager R350 grant for the unemployed.

“The Budget Speech is reasonably good for the haves (the rich) in society with no tax hikes and rebates for solar panels. “But it contains slim pickings for the have-nots with no increase in the lamentable R350 poverty grant, no advance on a Basic Income Grant, and no assistance to escape Eskom mal performance,” says Herron.

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BUDGET HANDS CRUMPS TO POOR PEOPLE

“Furthermore, despite commitment in the President’s State of the Nation Address (SONA) that existing social grants will be increased to cushion the poor against rising inflation, the extra crumbs announced for child care and old age pensions today insult our most vulnerable people.”

Brett Herron
Budget Speech rich people
Finance Minister Enoch Godongwana gave nothing extra to the R350 SASSA beneficiaries. Flickr and Facebook/SASSA News.

Good says this year’s Budget Speech sought to please all, including the rich, but hot the poor who depend on monthly social grants.

“The bottom line on this year’s Budget Speech: It sought to please all, besides the 18 million people living in poverty,” says GOOD’s Herron.

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GOOD SAYS THE 2023 BUDGET IS FOR THE RICH PEOPLE

GOOD says it was good to hear that South Africa’s economy grew by an estimated 2.5% in 2022.

“This is up from the 1.9% projection in the MTBP. However, we note that this hasn’t had an impact on real unemployment numbers. The fact that the medium-term growth outlook has deteriorated is more bad news for job-seekers.”

Brett Herron

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GOOD welcomes the decision not to implement significant tax increases in the Budget Speech.

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