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Home › AIDC › AIDC submission to the Select and Standing Committees on Finance on the 2023 Medium-Term Budget Policy Statement
AIDC submission to the Select and Standing Committees on Finance on the 2023 Medium-Term Budget Policy Statement
Posted on by AIDC
The Alternative Information and Development Centre (AIDC) made a written submission on the Revised Fiscal Framework and Revenue Proposals to the Select and Standing Committees on Finance on the 2023 Medium-Term Budget Policy Statement which speak to a number of wide-ranging points regarding South Africa’s economic trajectory, a critique of the rationale underlying the 2023 Medium-Term Budget Policy Statement, as well as outlining policy alternatives which ought to have been explored in the MTBPS and beyond.
Our submission is structured as follows: (i.) An analysis of the impact that the fiscal framework and expenditure priorities of the 2023 MTBPS will have in the context of South Africa’s social-economic crisis. (ii.) A critique of the assumption of a ‘debt-crisis’ which underlies the decisions in this MTBPS. (iii.) The austerity-trajectory of the 2023 MTBPS will constrain economic growth and therefore be self-defeating in its attempt to contain the debt-to-GDP ratio. (iv.) Revenue-raising proposals to avoid austerity and establish a progressive fiscal framework. (v.) The need to fund policy proposals which deal with South Africa’s social crisis and economic stagnation together.
Read more on the document below.