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COSATU's Submission on the 2015 Budget: Unemployment, Triple Challenges, Austerity vs. Stimulus, Radical Economic Transf

This submission highlights key issues such as unemployment, triple challenges, austerity vs. stimulus, radical economic transformation, tax reforms, delivery achievements, and government plans. It also covers global climate and business as usual. The submission provides observations on expenditure, cuts in real expenditure, EU vs. US and Chinese approach, public service vacancies, sale of state assets, good statements and concrete plans, tax increases upon the poor, and VAT. It discusses strategic priorities for growth and development including Saldanha Bay, the mining sector, and state-owned enterprises. The economic context covers EU austerity vs. US and Chinese stimulus, African trade and investment, government economic sectoral interventions and support, as well as industrialization, manufacturing, agriculture, and tourism. The budget framework and fiscal policy include household financial health, real cuts in state expenditure, freezing of public service vacancies, wasteful expenditure cutbacks, bling expenditure, and contingency reserves. It also addresses medium-term expenditure, the division of revenue, local government interventions and financing, economic development, employment and enterprise development, health and social protection, education, sport and culture, post-school education and training, transport, energy and communications, defense, public order and safety, financial management, revenue and tax measures, state-owned companies, developmental finance institutions, financial sector reforms, and concludes with a thank you.

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COSATU's Submission on the 2015 Budget: Unemployment, Triple Challenges, Austerity vs. Stimulus, Radical Economic Transf

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  1. COSATU’s Submission on the 2015 Budget

  2. Introductory Remarks • Key issues: • Unemployment; • Triple challenges; • Austerity vs. stimulus; • Radical economic transformation; • Tax reforms; • Delivery achievements; and • Government plans.

  3. Continued • Global climate; and • Business as usual.

  4. General Observations • Expenditure ceiling and austerity; • Cuts in real expenditure; • EU vs. US and Chinese approach; • Public service vacancies; • Sale of state assets; • Good statements and concrete plans; • NHI, Comprehensive Social Security & Treasury;

  5. Continued • Tax increases upon the poor; and • VAT.

  6. Strategic Priorities for Growth & Development • Saldanha Bay; • Mining sector; and • State owned enterprises.

  7. Economic Context • EU austerity vs. US and Chinese stimulus; • African trade and investment; • Government economic sectoral interventions and support; and • Industrialisation, manufacturing, agriculture and tourism.

  8. Budget Framework & Fiscal Policy • Household financial health; • Real cuts in state expenditure; • Freezing of public service vacancies; • Wasteful expenditure cut backs; • Bling expenditure; and • Contingency reserves.

  9. Medium Term Expenditure & Division of Revenue • Local government interventions & financing: Unicities, rural and district municipalities; and • Limpopo and Eastern Cape.

  10. Economic Development • Oceans economy; • Shale gas and hydraulic fracking; • Emerging farmers and land restitution; and • Integrated infrastructure development programme.

  11. Employment & Enterprise Development • Employment Tax Incentives; • Manufacturing support; • Expanded Public and Community Works Programmes; and • Environmental Affairs jobs programme.

  12. Health & Social Protection • HIV/ AIDS; • Public health facilities; • NHI White Paper; • Social Grants achievements and increases; and • Retirement reform and Comprehensive Social Security Discussion Paper.

  13. Education, Sport & Culture • Crisis; • Text books; • Safety and security; and • Mud schools.

  14. Post-School Education & Training • New universities; • NSFAS; and • Colleges.

  15. Transport, Energy & Communications • Rail infrastructure; • Water infrastructure and tariffs; • Energy interventions; • Renewable energy; • Electricity tariff increase; and • Postal Services;

  16. Continued • E Tolls and privatisation; • Road funding; • Public transport; and • Fuel levy increase.

  17. Defence, Public Order & Safety • Corruption; • Crime; and • Judicial system and correctional services.

  18. Transport • Rail upgrading and procurement; • Public transport; and • E Tolls and user pay.

  19. Financial Management • Text book procurement; • Tender reforms; and • 30 day payments.

  20. Revenue & Tax Measures • COSATU tax reform proposals; • New taxes: • Income tax; • Electricity and fuel; • Sin; • Property sales; and • UIF.

  21. Continued • VAT; and • Tax evasion.

  22. State Owned Companies • Deputy President’s interventions; • Financial developmental mandates; • Sale of state owned assets; and • SAA, SAA Express and Mango.

  23. Developmental Finance Institutions • IDC • DBSA

  24. Financial Sector Reforms • Banking sector interventions; and • Retirement reforms.

  25. Conclusion & Thank you. • 34% unemployment and triple challenges; • Business as usual; • Austerity vs. stimulus; • Wasteful expenditure; • Developmental achievements; and • Radical economic transformation.

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