Chairperson, the ACDP shares the Minister's concerns that we are already R18 billion behind in our revenue projections and that it is estimated that the budget deficit may rise to 7% of GDP, or an additional R50 billion to R60 billion will have to be found. Whilst our level of debt is relatively low by international standards, if our debt service costs rise, it will mean that government would have less money to spend.
Once the recession bottoms out, government will need to bring the deficit down again by curbing spending. The ACDP supports the finance Minister in this regard, who stated that the fiscus base to maintain government spending by borrowing was not limitless and that a period of fiscal consolidation must follow once the country emerges from recession. However, at this stage - and now there is an urgency for government to recognise and address the problem of wasteful and ineffective spending - we, as MPs, need to take up the challenge issued during the Budget speech that we should play a more active role in challenging accounting officers to plan their efficiency saving initiatives upfront and report regularly on progress. This is so particularly since we, as MPs, will be able to amend the budget next year.
How sympathetic can we be, when accounting officers of departments do not play their part? The ACDP also agrees that we need a thorough assessment of all government's programmes to see how we can improve value for money and identify areas where we can eliminate or reduce wastage. We need to ensure that as we spend more, we spend better. The ACDP will support this Budget Vote. Thank you.