The more business owners emigrate, the worse the consequences for job creation, says Solly Moeng.
Mostly sunny. Mild.
News24 editor-in-chief Adriaan Basson has dissected Budget 2020 with Public Enterprises Minister Pravin Gordhan, Nazmeera Moola and Matthew Parks.
Gordhan: SAA business rescue practitioners have final say on airline's restructure
SAA's business rescue practitioners have the final say on a plan to restructure the embattled airline and government will respect that authority, Public Enterprises Minister Pravin Gordhan has said. Gordhan was speaking at News24's Frontline post-Budget panel discussion on Thursday morning.
SAA was placed under business rescue in December 2019.
In early February its business rescue practitioners, Les Matuson and Siviwe Dongwana, cancelled dozens of routes in a bid to save cash.
President Cyril Ramaphsoa said at the time he was unhappy with the cancellations. Later in the month government secured a R3.5 billion loan from the Development Bank of Southern Africa to prevent the national airline from being liquidated. Gordhan, meanwhile, has previously warned that this funding may run dry by March.
We can overcome these difficulties, says Gordhan.
It requires bold leadership
There are key areas where there are skills deficits, says
Part of state capture was to get rid of people with skills
Small business ministry will create a supportive environment
for small business, says Gordhan.
Structure of the economy is still legacy driven
Economy requires energy security, says Gordhan.
Eskom is critical for the SA economy
Much of the R16bn is debt that SAA owes, says Gordhan on SAA
business rescue plans.
Money has been taken, but it's nowhere near austerity
We are critical of the monopoly culture, says Gordhan.
Each of these entities must be self-sufficient
We need to introduce accountability, says Moola.
SOEs must have accountability
Basson asks about selling SAA.
Do you have a buyer for SAA? Moola hits back
There is a shift to sustainability.
US power stations have cut their coal consumption in half,
It's not only the 44 000 jobs at Eskom at stake, says Parks.
Says the whole of SA is at stake
Eskom's issues are not just financial and the financial
issues are not the biggest problem, says Moola.
Highlights the corruption in Eskom
It's really important that you deal with corruption, says
Says that large companies who pay bribes need to be
"flushed out of the system"
Treasury not looking to cut wages; they're looking to grow
I would prefer not to cut jobs, says Moola
We have proposed a skills audit at Eskom, says Parks.
There is a skills shortage
ANALYSIS | Why staring down the unions will be the decisive battle for Ramaphosa, Mboweni
President Cyril Ramaphosa and Finance Minister Tito Mboweni’s stated ambition to slash the public sector wage bill has set the scene for a confrontation with public sector unions and trade union federation Cosatu.
Budget 2020 | READ: Minister Mboweni's speech in full
The Aloe Ferox survives and thrives when times are tough. It actually prefers less water. It wins even when it seems the odds are against it.
Minister of Finance Tito Mboweni delivered the 2020 National Budget Speech in the Parliament February 26, 2020 in Cape Town.
The national budget speech is the government's spending plan for the coming financial year.
The minister of finance is responsible for allocating money to the government's different programmes and objectives. (Brenton Geach, Gallo Images)
Budget 2020 in a nutshell | No major tax changes and ambitious proposal to cut state wage bill
A proposal to cut the state's wage bill by R160.2 billion over three years as Treasury warns of ever-rising debt repayment costs, was one of the key announcements in the 2020 Budget.
'The battle lines are drawn' | Cosatu vows to push back against proposed wage cuts
Trade union federation Cosatu has labelled the 2020 Budget "provocative", saying that instead of a clear diagnosis of the problems facing SA, National Treasury attempted to "dump the bill for industrial-scale looting on public servants".
SA bankers: We don't see the logic behind a commercial state bank
Representatives of SA's banking and financial services industry say they are finding it difficult to understand government's rationale behind establishing a commercial state bank.
These charts show Mboweni's tough Budget task
Moody’s Investors Service in November gave South African Finance Minister Tito Mboweni just under four months to come up with a credible plan to rein in government debt and get the economy growing.
Food24 writer and wine snob, Katy Rose reviews the food and wine movie we didn’t know we needed.
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