Thank you very much, hon Chair. The fine balancing act required at this time with the very limited resources we have to ensure and maximise the equitable division of revenue will be something of a fine craft.
Over the past few weeks in this House we adopted recommendations and reports of fiscal review, which the IFP supported. We did so because we will be constructive and we'll keep a close watch on making sure that government's fiscal policy and targets are met. Through this Division of Revenue, government must ensure that not only fiscal but also social sustainability is considered.
The phrase that says, the failure to spend is the failure to deliver rings true on the occasion but this time around we need to spend in sectors of our economy which will impact the lives of millions who are unemployed. Our revenue must address the needs and to see social and economic justice becoming a reality.
Our economy must insulate from further economic shocks to safeguard the interests of our people, in particular the poor and most vulnerable. We must ensure that the pressure not only comes from top down but also from bottom up; in that many municipalities are pressurised in their own budgets, and in many instances are indebted and unable to repay their bills.
The public sector wage bill is out of control, top heavy and places far too much pressure on the already constrained budget. We must place caps on both public wage growth and contingent liabilities in SOEs. This is critical if we wish to achieve what this House collectively adopted, and that is our commitment to fiscal sustainability.
Corruption, irregular expenditure, and fruitless and wasteful expenditure are true enemies of the state and they must be eradicated from the smallest entities, agencies and all provincial
and national departments. This must be done. Without consequences we will see more of the same. The IFP supports the Division of Revenue. [Applause.]