News24 The Lead

Budget cuts, a fuel levy increase and SA’s debt crisis, with Carol Paton

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It’s not a statement you would’ve seen two months ago. The Democratic Alliance on Wednesday said it’s “cautiously” supporting Finance Minister Enoch Godongwana’s Budget, albeit version 3.0. The latest iteration proposes, among other measures, spending cuts for education, health the Passenger Rail Agency (PRASA) while Treasury promises a significant overhaul of expenditure in future budgets. The SA Revenue Services (SARS) is also getting a big chunk of the budget to assist in plugging the revenue shortfall due to the scrapping of a 1% VAT increase in the next two years. After spending the morning studying the Budget News24 specialist journalist, Carol Paton, says concern should lie elsewhere: “ We can expect the politicians to be jubilant at this Budget. South Africa has got a serious debt problem. To pay R1.2-billion a day just to service your debt … is a crisis”. Read Paton’s budget round-up here. Later, host Graeme Raubenheimer summarises the series of events leading up to President Ramaphosa’s meeting with President Trump. We also chat about team South Africa taking gold for a second year at the Chelsea Flower Show.Mail your comments and voice notes to thelead@24.com. Editions drop Monday through Thursday at 19:00 on Spotify, Apple and YouTube.
21 May English South Africa News · Society & Culture

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