20 February 2008
The ANC welcomes the Budget Speech presented by Minister of Finance Trevor Manuel and regards this budget as a decisively developmental budget.
At the 52nd National Conference of the ANC held in Polokwane in December we resolved to pursue macro-economic policies that promote and support growth, job creation and poverty eradication on a sustainable basis.
This year's budget clearly takes us forward in this regard. The allocation of an additional R12 billion for social welfare further underlines the commitment of the ANC to improve the lives of all our people. Particularly welcome are thecommitments to equalise the pensionable age for men and women at 60 years and to extend the child support grant to children up to the age of 15. The additional allocation to public works programmes and support for labour intensive public services and private sector development are also of critical importance in responding to our mandate.
This budget clearly illustrates measures which are being put in place to defeat unemployment and roll-back the frontiers of poverty.
The allocation of R60 billion to the electricity utility, Eskom, will assist in addressing the challenges brought about by the rolling black-outs we have experienced in the past weeks.
The ANC is commited to the fundamental transformation of the economy. We are therefore pleased to note that significant allocations have been made in favour of industrial policy. Also critical are the further allocations made in favour of skills development and education. Government's continued roll-out of social and economic infrastructure, including basic services for the poor are also critical to transforming the nature of South Africa's growth path and building a better life for all our people.
The ANC's vision is that of a thriving and integrated economy, which draws on the creativity and skills that our whole population can offer. This budget builds on South Africa's economic endowments to create decent work for all and eliminate poverty, in particular the rebate of 1% taxation to companies will encourage job creation and facilitate further inward investments.
We have resolved to mobilise and unite all South Africans behind a common vision of economic transformation. The budget will provide a solid basis for us to conduct this work over the coming months.
We call on all South Africans to rally behind the call by Minister Trevor Manual, "that we are all in it together."
Issued by African National Congress
For more information contact Jessie Duarte on on 079 506 6756