For Creamer Media in Johannesburg, I’m Thabi Madiba.

Making headlines: Mixed reaction to Budget speech; Godongwana says De Ruyter is 'economical with the truth' about corruption claims; And, EFF says its shutdown is the solution to SA's challenges

Mixed reaction to Budget speech

Democratic Alliance Shadow Minister of Finance Dion George has criticised Finance Minister Enoch Godongwana’s Budget speech as a “missed opportunity” for failing to announce sound structural reforms that could drive economic growth, incentivise savings and attract foreign capital.

Godongwana’s much-anticipated speech comes as South Africans are frustrated with ongoing loadshedding that is negatively impacting on businesses and ordinary people.

Currently the country is at stage 6 with a possibility of changing to stage 8 loadshedding as Eskom battles to keep the lights on.

George said the Budget completely ignored the country's mounting debt problem, and it offered no solution to revitalise State-owned enterprises or address the energy crisis.

The ruling African National Congress welcomed the budget, which it said confirmed decisions taken by the party in its 55th National Conference, and NEC Lekgotla, as well as the recent State of the Nation Address delivered by President Cyril Ramaphosa.

The ANC believes that the Budget responds to the immediate and long-term challenges confronting South Africa, including the current energy challenge.

ActionSA has welcomed Godongwana's commitment to introduce tax credits for private solar panel installations and to take over Eskom’s R254-billion debt to stabilise operations at the utility.

Godongwana says De Ruyter is 'economical with the truth' about corruption claims

Finance Minister Enoch Godongwana says that former Eskom CEO André de Ruyter "was economical with the truth" in his comments about corruption at Eskom in a recent interview. 

The interview led to De Ruyter's immediate departure from Eskom at the board's request. 

Answering questions from MPs in Parliament today on the Budget, Godogwana said indeed some syndicates were operating, which also included police. The government set up a task team and moved into Megawatt Park and arrested a number of people. However, he said he found it difficult to accept de Ruyter’s statement that nothing was done.

Godongwana also briefed MPs on the debt solution for Eskom. The bailout will see the Treasury take over R254-billion in debt repayments and interest costs for the next three years and take over R70-billion of loan debt. The bailout will take the form of an interest-free loan with conditions attached.

And, EFF says its shutdown is the solution to SA's challenges

The Economic Freedom Fighters has called Finance Minister Enoch Godongwana's Budget speech a "concoction of delusions" that lacked "practical, implementable and believable" solutions for the country's structural challenges.

The party said the only plausible solution for the challenges facing the country was its planned national shutdown on March 20.

The EFF said Godongwana's speech failed to offer immediate relief to resolve the energy debt crisis and improve power availability.

The EFF is shocked that, despite the seriousness of the impending debt crisis because of the poor fiscal and monetary policy mismanagement, the minister of finance unashamedly saw it fit to present a budget that does not have the plan to offer immediate and sustainable solutions to deal with the debt crisis.

The party said introducing a solar panel tax relief plan benefitted the "white rich" and black middle class, completely dismissing the working class and the majority of black people who were subjected to "expensive electricity prices".

That’s a roundup of news making headlines today

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