Chairperson, in order to raise the level of service delivery, constructive spending patterns are of paramount importance. On the issue of debt:GDP ratio, the MF believes strongly that National Treasury should have come up with a model to reduce it in order for there to be stability.
We are constantly reminded by the Minister of Finance that we are in a globalised world, but that indicates that we are neglecting issues of domestic infrastructure and that the economy is dependent on what is happening in other countries. The movement of currencies between countries does not mean that we have a recession. Therefore, it is imperative that a country should put great emphasis on domestic infrastructure and social priorities.
Grants to municipalities are an area of great concern. Indeed, there should be a constructive oversight monitoring mechanism. Communities continue to fall victim to the lack of better service delivery because of corruption, nepotism and maladministration. The MF welcomes the Minister's commitment and dedication to getting rid of corruption.
Land reform is a very critical issue. Whilst land restitution is a right, land reform is a policy choice. It is sad that foreign industrialists are controlling most of the land in South Africa. Therefore, we must put emphasis on land reform. It is no use saying we are on South African land - on this land - yet know that most of it is owned by foreigners.
Provinces also need to play a pivotal role in revenue collection. We only look at national revenue collection. What mechanisms are in place to bring provinces on board?
The MF welcomes the youth wage subsidy. However, youth unemployment and the skills shortage are structural unemployment problems. The skills that graduates have are not required by the labour market. While South Africa is spending greatly on our education system by hiring educators and building colleges, are we spending on a relevant education system? The MF will support the Bill.