Parties expect MTBPS to address cost of living crisis

Some political parties have outlined their expectations ahead of the Medium-Term Budget Policy Statement (MTBPS), with a sharp focus on economic growth and improving the cost of living.

Finance Minister Enoch Godongwana will table his MTBPS speech on Wednesday afternoon.

Rise Mzansi says the MBTPS will be evaluated on the relief it will bring to address the ongoing high costs of living.

The party says it expects a tax windfall in excess of R54 billion as a temporary measure, as spokesperson Mabine Seabe elaborates.

“When Finance Minister Enoch Godongwana tables the Medium-Term Budget Policy Statement, South Africans will be asking one question, is there any relief from this crushing cost of living crises? Global volatility from the US trade policy to the energy shocks in the Middle East is driving fuel inflation, high diesel prices continue to hit local supply chain and households’ budgets hard.

A focus tax windfall exceeding R50 billion will provide short-term breathing room, but it won’t solve the structural problems.

The Treasury must now re-think its reliance on rigid fuel levies.

Middle class budgets are stretched.

Rise Mzansi therefore states that Treasury must offer a clear decisive path.” The African Christian Democratic Party (ACDP) says it expects the MTBPS to pave the way for economic recovery.

ACDP MP Steve Swart says this year’s statement comes at a crucial time when the country is confronted global crude oil increases, high unemployment and crime.

“He must also chart a credible path towards economic recovery, job creation and social stability.

The good news is that the ACDP is expecting a tax wind fall of up to R50 billion this tax year.

These funds must be used to stabilise debt and debt service costs and bring relief to hard pressed households and businesses.

We believe Parliament must speedily pass the Special Appropriation Bill which is aimed to bring R10 billion tax relief at the fuel pumps.