SUBMISSION BY THE BUDGET JUSTICE COALITION (BJC) ON THE 2018 MEDIUM TERM BUDGET POLICY STATEMENT (MTBPS) TO THE JOINT MEETING OF THE STANDING AND SELECT COMMITTEES ON FINANCE
The primary purpose of this submission is to highlight areas within the selected programmes that are in need of concerted interventions in relation to budgeting and planning, following the tabling of the Medium Term Budget Policy Statement (MTBPS), the Adjustments Estimates and Adjustment Appropriations Bill by the Minister of Finance, Tito Mboweni on 24 October 2018. Each of the organisations that contributed to this submission hope to engage further with the Committee, National Treasury, and relevant line function departments in due course.
Rather than taking bold steps to stimulate the economy and embark on a more inclusive growth path, the Medium Term Budget Policy Statement (MTBPS) merely tinkers at the margins. While we welcome that the statement focused on improving governance and strengthening institutions such as SARS, it is the view of the Budget Justice Coalition (BJC) that an economic recovery and turnaround will come only from investment in all aspects of improving our Peoples’ lives. The anaemic social spending of recent years, and real per capita cutbacks taking place in some areas, will only further entrench patterns of poverty and inequality. The MTBPS reinforces South Africa’s austerity policy direction and does little to ensure government’s revenue-raising and spending advance the fulfilment of socio-economic rights.