Hon Chair, the Minister of Finance, Mr Pravin Gordhan, stated the following: "Government will strengthen financial management in the public sector, pursue value for money with the greatest possible vigour and ensure that taxpayers' money is well used."
The Minister further said that government needed to activate both public and private sector energies, specifically referring to infrastructure programmes and support for industrial development and spatial economic zones. With this in mind, it is most disturbing that the Department of Public Enterprises' budget allocation has been steadily declining over the years. For the 2012-2013 financial year, the department has been allocated approximately R1249,1 billion, which reflects an increase from the previous financial year of R353,3 billion.
Do not let this amount fool you. Of this R1 249,1 billion, about R1 050 billion is earmarked for transfers. The Public Enterprises' budget cannot be used for continual bailouts of failing state-owned companies and therefore the DA cannot support this Budget Vote.