POLITICS

Malusi Gigaba As An Orator: The Best Lines From His Speech

The new finance minister delivered his first major finance policy speech. Here are his strongest lines.

25/10/2017 13:59 SAST | Updated 25/10/2017 13:59 SAST
James Oatway / Reuters

1. "It is not in the public interest, nor is it in the interest of government, to sugar-coat the state of our economy and the challenges we are facing."

2. "The period ahead is not going to be an easy one. Our resolve is to remain on course and not to deviate irretrievably from the fiscal consolidation agenda we embarked on a few years ago."

3. "There is no magic bullet to do this; much depends on the policy choices made and the effectiveness of their implementation."

4."We need to increase the pace of reforms. Government must improve its productivity and decisiveness."

Wealth remains highly concentrated – 95 per cent of our wealth is in the hands of 10 per cent of the population.

6. "We desperately need business that invests, thereby creating growth and employment."

7. "Slow progress and poor co-operation have given rise to a lack of trust between stakeholders and policy contestation that has compromised the economy and confidence."

8. "In the immediate term, we need to rebuild confidence as a matter of urgency and also work to engender an economic system that is built on a common vision."

9. "Our greatest challenge remains effective implementation and slow pace in many instances."

10. "We cannot expect the economy to slow down to the speed of government; government must speed up to meet the needs of the economy."

11. "All are united in condemning corruption in the public and private sector and are calling for renewed efforts to combat it."

Tax revenue is projected to fall short of the 2017 Budget estimate by R50.8 billion in the current year, the largest downward revision since the 2009 recession.

13. "Recent years have seen several worrying developments with regard to state-owned companies, with worrying trends of governance failures, corruption, operational inefficiency and the need for government bailouts."

14. "As the shareholder, we are tired of being dragged into crises by those we employ to govern and manage state-owned companies. This must end."

15. "We were once one of the world's great mining countries; we can be that again, this time with the benefits shared across our entire society."

16. "President Zuma, thank you for your guidance and leadership. Deputy President Ramaphosa, thank you for your encouragement."