The MK Party presents an alternative budget, “The people’s budget,” that prioritises people over profits, development over debt, and sovereignty over submission to neoliberal and imperialist dictators.
Deputy President of uMkhonto weSizwe, John Hlophe said for seven years, Cyril Ramaphosa’s government has relentlessly pursued a failed neoliberal austerity agenda, stifled economic growth and plunged millions into deeper poverty.
“Their fixation on debt reduction over development has ironically increased public debt by over R2 trillion to nearly R6 trillion. Meanwhile, unemployment has soared, with overall unemployment at 42% and youth unemployment exceeding a staggering 60%.”
The Auditor-General reports that irregular expenditure from government departments and state-owned enterprises in the 2023/24 financial year has surged to an astounding R120 billion. Additionally, the R500 billion intended to safeguard the economy during Covid has disappeared without a trace.
The MK Party reports that electricity tariffs have surged by over 30% in just two years, while food prices are rising at nearly twice the rate of inflation. Public services are in disarray, with underfunded police, hospitals short on staff and medicine, and schools experiencing a 31.4% dropout rate. The party claims that State-Owned Enterprises (SOEs) are barely functional, having been stripped for privatization. Infrastructure issues are worsening, with cities, towns, and villages, including Johannesburg, facing water and electricity supply failures and deteriorating road infrastructure. Power cuts have resumed after a brief respite, further crippling the economy.
MK Party Member of Parliament, David Skosana said despite not finalizing a medium-term development plan, the ANC/DA regime has recklessly increased VAT in the latest budget, delivered by the Minister of Finance without a credible economic roadmap.
“This decision appears to be based on desperation rather than sound economic strategy. It is seen as economic suicide and an abdication of responsibility at a time when decisive action for radical economic transformation is needed.”
The Party asserts that the People’s Budget marks a significant departure from the ANC/DA regime’s damaging austerity measures, which have depleted the economy and left millions in poverty. Unlike their neoliberal failures, the Party plans to establish and fund a comprehensive social security system that guarantees employment with wages above R4,500 for those able and willing to work, along with skills development and training. A Basic Income Grant of at least R1,558 will support the unemployed, while Child Support Grants will increase to R760, and old-age and disability pensions will rise to R4,500, restoring dignity to the vulnerable.
Homelessness will be eliminated through well-funded shelters, rehabilitation programs, and employment initiatives, ensuring that no South African is left behind.
The uMkhonto we Sizwe Party also stated that the People’s Budget will transform SOEs into engines of national development by investing in their expansion and efficiency. A state-owned banking network will be established to provide affordable credit to Black-, women-, and youth-owned businesses, breaking the dominance of private banks. Education and healthcare will be prioritized over profit-driven policies, with free public education fully funded, tuition fees eliminated, and skills training in high-growth sectors emphasized. The healthcare system will be expanded to ensure universal, high-quality medical care, incorporating traditional healing practices and strengthening public hospitals.
The party concluded by saying that The People’s Budget is a blueprint for economic freedom. It aims to return land to the people, provide free quality education that was once denied, and create jobs for its people.
