But that is our duty. As we conclude, Deputy Speaker and Mr President, let us remind ourselves again that 20 years ago, in the Ready to Govern document, we said that we would honestly face up to the problems confronting our country and that these would not be solved overnight. We also recognised that our ultimate goals have to be transformed into effective and realisable programmes in the short and medium terms.
The global economic slowdown and the domestic stresses we currently confront have presented formidable but not insurmountable challenges to our Fiscal and Budget Framework. Our response to these challenges is set out in the Medium-Term Budget Policy Statement. It provides the financial plan for infrastructure investment, the broadening of the social wage, investment in education and support for economic competitiveness to be implemented over the period ahead.
I want to thank President Zuma for his constant and bold leadership, and Deputy President Motlanthe for his valued guidance. [Applause.] I am grateful for the support by the Ministers' Committee on the Budget, members of the Treasury Committee, Cabinet colleagues, Premiers and provincial finance MECs during an important and challenging time in our country.
My sincere appreciation goes to the following for their invaluable and constructive contributions: Mr Mufamadi and Mr Sogoni, Mr De Beer and Mr Chaane, who chair the Standing and Select Committees on Finance and Appropriations; the Governor of the Reserve Bank, Ms Marcus, who is in the gallery, and her team, for a very supportive monetary policy; the Auditor- General, Terence Nombembe, and his staff, for their rigorous scrutiny of our public finances; Mr Oupa Magashula and the staff of the SA Revenue Service - they do not look 15 years old - for their creative and valiant efforts to collect the revenue we need; to my colleague, Deputy Minister Nene, who has been a pillar of strength and always willing to share the burden in managing the complex issues we have had to deal with; Director- General Lungisa Fuzile, who has provided a very strong, erudite and courageous leadership; and the dedicated and patriotic Treasury team, which has consistently done what is in the best interest of South Africa. [Applause.]
We still live in challenging and uncertain times. A year ago exactly, on 25 October 2011, I said, and I quote:
There are many opportunities for us to advance to our goal for a better life for all in South Africa. This is a time for a united action, for greater urgency, and for an unconditional focus on those programmes, which will demonstrate to our people that we care and that we will change their lives for the better.
This is our collective message to all South Africans and the world, and this is for emphasis: The global economy, particularly the developed countries, will be in difficulty for some time to come. The South African economy, by comparison, remains resilient in the face of both global and domestic challenges. [Applause.]
We are committed to taking strong measures to ensure value for money, increased savings, eliminating waste and implementing more effective controls over personnel expenditure. There will be no additions to the overall spending levels. Public expenditure will remain at the level set in the 2012 Budget. You have to clap for that one too! [Applause.]
As South Africans, we need to dig deep into our reservoir of goodwill, ingenuity and resilience to find new ways of implementing our plans, creating jobs and generating inclusive growth. As government, we have a sustainable Fiscal Framework, which balances short-term support for the economy with long-term fiscal consolidation. As government, we have all committed to working within this framework. As a country, we face difficulties, but, please, we are not in a terminal crisis. Let us set about proving the pessimists wrong ... [Interjections.]