Today's Labour News

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newsThe Citizen reports that commentators expect an unpopular medium-term budget, low on spending and heavy on savings, ahead of its delivery on Wednesday by Finance Minister Tito Mboweni.  

While unions were divided on hot-button issues such as the public wage bill, SA Federation of Trade Union (Saftu) general secretary Zwelinzima Vavi said the working class should expect “hell” from it.  Research director at the Mapungubwe Institute for Strategic Reflection, Ralph Mathekga, said the time for popular budgets was over and that Mboweni was likely to irk many South Africans to thwart further economic disaster.  “He is not being quiet in confronting a very difficult issue, especially with the unions.  He is saying there is no money and you can raise taxes, but you do not want to push that too far where the economy ends up depreciating,” Mathekga observed.  “But this is not about a balancing act.  He is going to have to be on the offensive and start saving money wherever he can,” he added.  Economist Sean Muller expects Mboweni to prioritise Ramaphosa’s fiscal consolidation plan, given the low revenue collection expected following the downward growth of the economy this year.  “That probably means further measures to increase taxation.  But especially with an election looming, the negative aspects will be downplayed,” Muller said.

  • Read this report by Simnikiwe Hlatshaneni & Chisom Jennifer Okoye in full at The Citizen
  • Read too, Cosatu versus Tito fight starts, on page 2 of The Citizen of 22 October 2018

Get other news reports at the SA Labour News home page