Tito tries to fill a leaking bucket

If I had to draw an analogy of Tito Mboweni’s budget, the most appropriate one that comes to mind is a bucket filled with holes. Mboweni, pictured, is trying to fill that bucket and he’s just not winning.

We all know about state capture, failing state-owned enterprises (SOEs), paying off debt, supporting a massive state welfare system and the myriad of needs facing the country, which contribute to the losses in revenue. All the while, we are shedding jobs at an alarming rate, with over 10 million unemployed.

The irony of it all is that SOEs are best-placed to stimulate the economy and create jobs.

Transnet, at one time, was the largest employer in SA. During apartheid, all whites who were not employed found themselves a job in the railways.

Denel has the potential to generate capital and develop technology. Remember Armscor during the old days? It was doing so well that it was the preferred supplier of weapons in the world.

During apartheid, SOEs created jobs and was used by the government to fulfill certain of its mandates. Today it’s not so. Why?

The holes in the bucket need to be fixed so that money that is poured in will be used to stimulate the economy, create jobs and improve investor confidence, not corruption.

And the minister must introduce the super and windfall tax for companies that make huge profits by having an unfair advantage.

Durban

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