Seifsa welcomes cost measures

"Minister [Nhlanhla] Nene and his team had to engage in a delicate balancing act," said Kaizer Nyatsumba, CEO of the Steel and Engineering Industries Federation of SA (Seifsa).

 

"It now remains to be seen if the financial discipline, efficiency and responsibility correctly identified by the minister will be evident throughout all tiers of government, with all instances of corruption ruthlessly dealt with," he said.

 

"Failure to act against those who do not implement these much-needed cost-saving measures can only undermine minister Nene and his team."

 

The answer to generating the additional R15 billion required in the next financial year lay in making South Africa more business friendly, attracting new domestic and international investment, and not by increasing corporate and personal taxes, Nyatsumba said.