Our in-depth analysis of the Medium Term Budget Policy Statement (MTBPS)

Every year South Africans endure a remarkable downpour of facts and figures in the form of the national budget speech and medium term budget statement. The hope is that the facts and figures make sense, and add up to a positive outcome. Unfortunately this is seldom the case.

Part of our mandate as the Cape Chamber is to provide clarity and oversight regarding matters relevant to both our members and the broader public. Budget speeches are one such time when clarity and oversight are not only relevant, but essential.

For this reason we have provided an in-depth analysis of the latest MTBPS (click to view). Partly our aim is to hold Government to account. However we also aim to stimulate discussion around key fiscal themes in the hope of contributing to much-needed economic recovery.

Our latest analysis highlights what we consider to be the top priority facing South African policymakers: the reconfiguration of the state. Failure to achieve this objective will undermine every other objective outlined in the MTBPS. As we point out in our analysis, “Core to the credibility of the MTBPS is the ability of Government to improve future state performance, both from an efficiency and effective perspective, as this is essential for both socio-economic enhancement and curtailment of corruption.”

We encourage everybody to read our complete MTBPS analysis. We interrogate the figures and summarise the key findings, adding much-needed context where needed. The more we understand our current shortcomings, the more we can work towards helping Government come up with solutions.

In this way we hope the next downfall of figures will not leave us with the chills.

John Lawson
CEO of the Cape Chamber of Commerce & Industry