Today's Labour News

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MboweniBL Premium reports that the Speaker of Parliament, Thandi Modise, announced on Tuesday that Finance Minister Tito Mboweni has requested that his medium-term budget policy statement (MTBPS) be delayed by a week to 28 October.  

The MTBPS statement is tabled halfway through the government’s financial year and gives an update on the Treasury’s economic projections and adjusts the budgets of departments.  Modise said that Mboweni had highlighted recent complex decisions taken by cabinet in respect of the 2020/2021 adjusted estimates and finalisation of government’s economic reconstruction and recovery plan as being among the reasons necessitating the rescheduling.  She said that the National Assembly programme committee would consider the request.  The date for the adjustment budget was set down for next Wednesday.  The request comes at a crucial time for the country as the Treasury attempts to plot a way out of a recession, made much more severe by the Covid-19 lockdown.  Business, labour and the government have been intensely engaged in talks to agree on a recovery plan, which President Cyril Ramaphosa is expected to announce in a speech to both houses of parliament on Thursday afternoon.

  • Read the full original of the report in the above regard by Carol Paton at BusinessLive (paywall access only)

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