MEDIUM-TERM BUDGET
ONKGOPOTSE JJ TABANE: Malusi Gigaba has a chance to restore SA’s faith
In a debate on the state of labour relations in SA on Power Perspective this week, union federations on opposite sides of the political spectrum — Cosatu and the South African Federation of Trade Unions — agreed that they are expecting nothing new from Finance Minister Malusi Gigaba when he delivers his medium-term budget policy statement on Wednesday. This must be a sad place to be for a minister who is so central to the economy. If you look at the track records of all the finance ministers of the democratic era (bar one) there has always been a sense of the budget as an instrument of change. Gigaba desperately needs to steer the economy in a direction that calms the markets and plants a seed of hope in the face of threatened credit downgrades, recession and inflation, but the ministry has lost the confidence of the market that it used to have.There has been a constant cloud hanging over the Treasury ever since Gigaba took over, but is it fair for this narrative to persist, or is i...
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