22 February 2000
The SACP is concerned about hundreds of thousands of jobs that have been lost,
unsustainable basic service delivery,
privatisation, massive capital disinvestment and the increasing gap between rich and poor.
The SACP argues for a people's budget, which emphasises active and progressive state
intervention in the economy on the
side of the poor and the working class. Without this, we cannot fundamentally address the
immense social and economic inequalities in our country.
The SACP argues for a budget biased towards poor people and the working class through
accelerated social delivery and job
creation. In this regard, the SACP calls for increased government expenditure and
investment on social security and industrial development.
The SACP would also like to see the Minister of Finance announcing steps to stem job
losses and address social security for
retrenched workers.
With regard to inflation targeting, the SACP cautions against the setting of
unrealistic targets, which may lead to higher
interest rates and thus undermine job creation. Inflation targeting, as part of fiscal
policy must be geared towards meeting reconstruction and development objectives.
The SACP will issue a full statement commenting on the budget after the budget is announced tomorrow.
22 February 2000
Issued by the SACP Department of Information & Publicity
E-Mail: sacp1@wn.apc.org
South African Communist Party Head Office
COSATU House No. 1 Leyds Street
7th Floor Braamfontein 2001
Republic of South Africa
(Tel: 27 11 339-3621/2)
(Fax: 27 11 339-4244)