Speaker, the ID recognises the enormous challenges that the South African economy currently faces and the difficult task of presenting a fiscal framework that funds our ever-increasing priorities while still ensuring that our debt levels do not become unsustainable. Ultimately, the only way for us to achieve this difficult balancing act is to move our economy on to a higher growth path; one that will ensure that the majority of our population is able to take up gainful employment.
The ID, therefore, welcomes the tentative steps that are being taken to restructure our economy and create new sectors that can spur on future economic growth. Unfortunately, however, most of the budgetary resources to do this have been directed towards the automotive and textile sectors, each of them receiving R1,6 billion in this year's budget.
Despite the commitment to build up green industries there has not been adequate budgetary allocation to do that. We have also heard in repeated budget speeches for the last three years that different environmental taxes have been explored, but now is the time to start implementing them. The emissions tax is a good start but there are many others in which environmentally destructive practices can be effectively taxed. This will bring in much-needed revenue for the state and help to put us on a more sustainable development path.
The ID is also concerned with the projections put forward by the Treasury concerning the anticipated economic recovery. The global economy is in a precarious state and we are concerned about whether this recent upturn is sustainable. Questions can certainly be asked about whether this recent upturn is simply a product of the enormous stimulus packages of developed countries and whether this recovery will continue once these stimuli are removed. If the global economy slumps into another recession and South Africa becomes a victim, our budget deficit will balloon. This is something we have to watch very closely.
In this regard, the ID supports the Minister's concerted efforts to rein in government expenditure and ensure that failing public enterprises are not funded into perpetuity. We also support his commitment to root out corruption, particularly as it pertains to the tendering process. We wish him the best of luck in this endeavour, though, because he is no doubt going to make enemies along the way. The ID implores him to investigate all conflicts of interest in the tendering process without fear or favour, including those of government Ministers and even the ruling party itself through its Chancellor House front company.
Let's work together to ensure that the tendering process is free from any conflicts of interest and that service delivery is no longer sacrificed on the altar of naked greed. It is possible to turn this economy around and root out corruption but only if we remain committed to the task. I thank you.