The Umkhonto WeSizwe Party (MKP) proposed an alternative budget speech aside from the national 2025 budget speech that was scheduled for 2 pm today.
“A Budget for the People” is what the MKP is proposing. The budget discusses topics such as taxation and revenue, social security, employment and job creation, education and healthcare, and many other important matters.
The party says that this budget focuses on job-creating, poverty alleviating, and social uplift, amongst other economic issues faced by South Africans. “This is a budget for the people, designed to uplift, empower, and restore dignity,” said the MKP.
They further underlined dire issues such as inflation and the alarming rate at which the cost-of-living increases while youth unemployment continues to rise, exceeding about 60%. This affects a majority of households and many lives across the nation. This alone highlights how South Africa’s economy continues to oppress the minority, in this case, black people.
A common issue that affected black people in the past is education and healthcare. The MKP says that to prioritise these factors, their budget will also increase free public education funding and will expand access to healthcare services regardless of income.
Following this the party spoke about increasing job creasing for the youth to combat the alarming high unemployment rates. In addition to that, increase social grants across all sectors to ensure that everyone can survive and maintain at least the minimum standard of living under South Africa’s economy.
These are just a few challenges faced by the marginalised that the MKP budget plan aims to tackle, as per their statement.
Another issue that raised concerns amongst the members of parliament today was the 2% increase in VAT. This even caused a halt in the day’s proceeding.
The MKP said, “To build a more equitable economy, we will implement progressive tax reforms that ensure the burden is shared fairly. We will increase corporate taxation, shifting the load from individuals to businesses and revoke interest tax deductions on second properties to raise revenue while simplifying the tax code.”
A lot of important issues were raised in the party’s statement. Issues that indeed South Africa needs solutions to, especially in this new financial year. One wonders whether or not parliament will consider some of the suggestions proposed by the MPK.
“This budget is more than just numbers—it is a bold commitment to the people of South Africa. It is a decisive plan for real, transformative change, ensuring that economic justice, prosperity and dignity reach every citizen, especially the marginalized. Our policies prioritize job creation, social upliftment and national development.” Says the MKP.
The budget speech was eventually postponed to March. The date has not yet been confirmed.
