Supplementary Budget 2020

Scrap BEE and educate SA, Fin24 users tell Gordhan

Cape Town - Against a backdrop of a government striving to achieve inclusive economic growth, most Fin24 users feel more resources are needed to educate the population and that black economic empowerment (BEE) should be scrapped.

In the run-up to what analysts have dubbed his "toughest budget ever", Finance Minister Pravin Gordhan has invited South Africans to submit their tips on what they would like to see in the National Budget.

He delivers his Budget Address on Wednesday February 24, amid an ailing economy and as South Africa fights to avoid a credit downgrade to junk status.

In his invitation for tips on what South Africans would like to see in the National Budget, Gordhan listed four areas for comment:

a) What are the three things that government does very well?
b) What are the three things that government should stop doing?
c) What are the three areas that government spending should be directed to?
d) How can SA achieve inclusive economic growth?

User views

Fin24 user Bingle Ferreira suggests that government use people's institutional "memories and competencies" and not bar them from participation because of race.

According to Deon Pieterse, South Africa has too much red tape and too many regulations which deter foreign investment and stimulation of the economy.

Eugene Swart calls for a focus on small business and "helping them grow and expand", along with encouraging farmers to produce more products for export.

"Instead of exporting iron ore to other countries, convert that into steel or cars or other products that can be exported at a higher value than the raw mineral.

"Why are we importing trains when we can make them? Why aren't we contributing to parts needed on Airbus and Boeing aircraft?" asks Swart.

Reghard Hamman says the biggest focus towards achieving inclusive growth should be employment.

"The means of creating employment is by addressing the factors that lead private companies to want to restrict their employee numbers as much as possible – a restrictive labour market, threat of union actions, a host of regulatory issues and high costs," he says.

According to Hamman, government should do more than just talk about these issues and actually address them by passing amendments that would make the labour market more flexible, curb violent, unprotected and prolonged strikes and punish perpetrators. Regulatory hurdles should be reduced urgently and significant tax incentives should be provided to encourage the private sector to look at how many people they can employ, instead of how few.  

INFOGRAPHIC: How SA can achieve inclusive economic growth according to 130 Fin24 users.

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Disclaimer: All comments published have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.

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