NUM statement on the 2015 Budget speech by Finance Minister Nhlanhla Nene

NUM Press Statement, 26 February 2015

NUM statement on the 2015 Budget speech by Finance Minister Nhlanhla Nene

The National Union of Mineworkers (NUM) noted the budget speech by the Finance Minister Nhlanhla Nene, but we are concerned that the Minister decided to raise personal income tax by 1%.

The failure to act to increase company tax in the face of the massive decline in the contribution of corporate tax since 2008 is a serious problem. Big business remains untouched.

"There is a revolt in waiting because the middle class continue to bear the brunt. The intention of the government is a very noble intention. We want to urge government to find a way of creating the balance because if the middle class feels they are the once who must bear the responsibility of subsidising the country, that would create a revolt and we might end up having a mini Arab spring," said NUM National Health and Safety Chairperson Peter Bailey.

As the NUM, we are not sure how long the middle-class will continue to bear the brunt.

The NUM is disappointed that the Minister increased the fuel tax by 81 cents.

"Just as we felt a pinch of relief from the fuel price decrease, the government is taking us back by increasing the fuel tax. We don’t have a problem in increasing the levies as long as those levies are going where they are suppose to render services. We were hoping that the increase in fuel tax would have resulted in e-tolls being scrapped," Bailey said.

The NUM also noted the commitment to including the mining sector in the Phakisa process and the development of a strategy towards its growth. However, we remain worried about the commitment of mining companies in this regard.

For more information, please contact:

Peter Bailey: NUM Health and Safety Chairperson: 0828837302

Livhuwani Mammburu: Acting NUM National Spokesperson: 083 809 3257

The National Union of Mineworkers
7 Rissik Street.
Cnr Frederick Johannesburg
Tel: 011 377 2111 Cell: 083 809 3257
Twitter: @Num_Media

Facebook: https://www.facebook.com/pages/NUM/100860023402167

26 Feb 2015

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