AS IT HAPPENED | Minister Pravin Gordhan dissects Budget 2020 with News24's Adriaan Basson

2020-02-27 06:58

News24 editor-in-chief Adriaan Basson has dissected Budget 2020 with Public Enterprises Minister Pravin Gordhan, Nazmeera Moola and Matthew Parks.


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Last Updated at 02:10
03 Mar 14:26

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.

27 Feb 08:34

We can overcome these difficulties, says Gordhan.  

It requires bold leadership

27 Feb 08:33
We have huge opportunities and we have to do the hard work, says Parks

27 Feb 08:32
I'm here to build for the long term, says Moola

27 Feb 08:32
We find ourselves in a very difficult position, says Moola

27 Feb 08:29

There are key areas where there are skills deficits, says Gordhan.  

Part of state capture was to get rid of people with skills  

27 Feb 08:28

Small business ministry will create a supportive environment for small business, says Gordhan.  

Structure of the economy is still legacy driven

27 Feb 08:26
Government should come up with a one-stop-shop for small business, says Moola

27 Feb 08:26
There needs to be more support for small business, says Moola

27 Feb 08:25
We all have to look in the mirror to see how we fit into things says Gordhan

27 Feb 08:24

Economy requires energy security, says Gordhan.  

Eskom is critical for the SA economy

27 Feb 08:23
Basson tackles questions from News24 users

27 Feb 08:23
We have a view, but we will be stupid to put forward a view that will result in another collapse, says Gordhan

27 Feb 08:22

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

27 Feb 08:20

We are critical of the monopoly culture, says Gordhan.  

Each of these entities must be self-sufficient  

27 Feb 08:18

We need to introduce accountability, says Moola.  

SOEs must have accountability

27 Feb 08:17

Basson asks about selling SAA.  

Do you have a buyer for SAA? Moola hits back

27 Feb 08:16
We cannot have this dependency on Eskom, says Moola

27 Feb 08:15

There is a shift to sustainability.  

US power stations have cut their coal consumption in half, says Moola

27 Feb 08:10
All of us must contribute to Eskom, says Parks

27 Feb 08:10

It's not only the 44 000 jobs at Eskom at stake, says Parks.  

Says the whole of SA is at stake

27 Feb 08:08
Whose responsibility is it at the end of the day, says Gordhan

27 Feb 08:08
Basson questions Gordhan on public pensions having to bail out SOEs

27 Feb 08:07
The slogans won't take us any further, asserts Gordhan on the debate on prescribed assets

27 Feb 08:05
The core impact of the state capture is on the operations of the entities, says Gordhan

27 Feb 08:04
Moola adverse to prescribed assets

27 Feb 08:02

Eskom's issues are not just financial and the financial issues are not the biggest problem, says Moola.  

Highlights the corruption in Eskom

27 Feb 08:00

It's really important that you deal with corruption, says Moola.  

Says that large companies who pay bribes need to be "flushed out of the system"

27 Feb 07:59
We need the NPA to come to the party to beat industrial looting, says Parks

27 Feb 07:58
We now have a president who is serious about cleaning up the state, says Parks

27 Feb 07:56
Our own members are quite despondent and angry, says Parks

27 Feb 07:56

Treasury not looking to cut wages; they're looking to grow it slowly.  

I would prefer not to cut jobs, says Moola

27 Feb 07:54

We have proposed a skills audit at Eskom, says Parks.  

There is a skills shortage

27 Feb 07:52
We need to stop being lazy about things says Gordhan as he discusses strategy for solving the budget problem

27 Feb 07:50
We in difficulty; we need to get out of that difficulty, says Gordhan

27 Feb 07:49
We're not just going to wait for miracles to happen, says Parks

27 Feb 07:48
Basson questions Parks on the wage bill. Parks says it's not easy for Cosatu

27 Feb 07:47
We have to save the state; we have to find each other, says Parks

27 Feb 07:46
Matthew Parks: We agree that we're in a crisis

27 Feb 07:45
SA needs a plan now and focus on it

27 Feb 07:44
Nazmeera Moola: Wages consumed far too much of the budget

27 Feb 07:42
We can have better growth in the next 18 to 24 months if we sacrifice now, says Gordhan

27 Feb 07:42
Budget reflect economic and fiscal realities, says Gordhan

27 Feb 07:25

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.

27 Feb 07:23

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.

27 Feb 07:03

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)

27 Feb 07:01

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.

27 Feb 07:00

'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".

27 Feb 06:59

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.

27 Feb 06:58

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.

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