Govt's debt service costs must be renegotiated, says chair of Parliament's finance committee
CAPE TOWN - The chairperson of Parliament's standing committee on finance, Joe Maswanganyi, believes the government's debt service costs must be renegotiated. The country spends R1.2 billion a day paying off its debt. With the Finance Minister backtracking on a value-added tax (VAT) increase to fund the 2025 national budget, this will widen the deficit and increase public debt.
Responding to the second tabling of a national budget on Wednesday, Maswanganyi said at a parliamentary briefing on Thursday that he believes the third version is credible, pro-poor and pragmatic.
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