Thank you, Madam Speaker. I am sure I will receive injury time with that whistle being blown.
We trust that the hon Minster of Finance will investigate whether the Umsobomvu Youth Fund and the new National Development Agency are successful in ensuring that the youth benefit from these funds.
The promotion of SMMEs and the development of our youth are vital in our quest to create employment. The institutions tasked with assisting these groups should be used for their intended purposes and not to enrich a select few who are politically connected. All forms of corruption and inefficiency must be removed from these institutions.
The IFP believes that spending on infrastructure development and maintenance is paramount to our growth and the attainment of our economic and social targets. The recent energy crisis highlighted our shortcomings and the need for investment in infrastructure projects that address our long-term needs.
We are therefore pleased that infrastructure spending, hon Minister, is given priority in this Budget, especially during this time of economic hardship. We are also pleased that there are additional allocations to other departments including Education, and we trust that these monies will be well spent.
Further, the IFP believes that an industrial policy that promotes beneficiation and manufactured exports and also focuses on sectors with high job potential, such as agriculture and tourism, is needed to promote growth. Rural agriculture must also be resuscitated as increased investment in this area will go a long way towards providing our rural poor with food security and an improved quality of life.
Other speakers from my party will touch on SAA, social welfare and other issues.
I would like to conclude by congratulating the hon Minister on his Budget Speech, as he has given this House and us an honest appraisal in which he mentioned both the areas of success and failure. This was probably one of the most difficult Budgets he has had to deliver, considering the gloomy global economic outlook and the lack of certainty that it has created.
Even though we may not agree with everything there, we believe that it is a well-balanced Budget that addresses both our short and long-term goals. I would like to thank the staff of the Minister and all my colleagues in the Finance committee and the respective chairpersons for the wonderful co- operation we have had during our term of office. Thank you very much. [Applause.]