In the upcoming Medium-Term Budget Policy Statement, Cosatu calls for a stimulus-focused approach to support struggling state enterprises and create sustainable jobs.
| Published 4h agoAhead of South Africa ’s Medium-Term Budget Policy Statement scheduled for October 30, the Congress of South Africa n Trade Unions has urged the government to deliver a bold and progressive fiscal strategy that decisively tackles South Africa ’s socio-economic challenges.
which have been the “neo-liberal approach doggedly pursued by Treasury for years” would only worsen the situation. The trade federation has outlined several “high-impact interventions” that it hopes will guide the government’s budget policy. The federation also criticised what it described as the “offensive myth” that the public sector is bloated. It argued that austerity measures have left key services such as education, healthcare, and policing dangerously understaffed.
The federation emphasised the need for “substantially increased funding” for industrial development and small- to medium-sized businesses to stimulate economic growth. To that end, it recommended a significant expansion of the Presidential Employment Stimulus, which it hopes will provide both work experience and income opportunities to unemployed youth.
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