Madam Speaker,

We are in the midst of a fast‐evolving pandemic.

In South Africa and around the world, we have made the decision to protect each other. We have quickly adapted. We all now wear masks. We wash our hands more often. We maintain a safe social distance. As a result, millions have stayed safe. We remain deeply concerned about the path of the virus. But, in common with several other countries that adopted a stringent, early lockdown, we have “flattened the curve” and saved lives.

As the wise farmer will tell you, when the tempest is raging you must protect your plants from damage. Our Aloe Ferox, like our people, is protected. Mr President, you are the wise farmer, caring for this Aloe Ferox.

The storm is not over. But, if we follow the health guidelines and make the right decisions to prepare for a new global reality then, soon enough, the days will grow calmer and our national Aloe Ferox shall go into the new day healthy and strong.

Liduma lidlule!
The storm shall pass!

1.1. THE PURPOSE OF THE SUPPLEMENTARY BUDGET

Honourable members,

The Public Finance Management Act, read together with the Money Bills Amendment Procedure and Related Matters Act, empowers me, as the Minister of Finance, to table an adjustments budget when necessary.

The historic nature of this pandemic and economic downturn has made it necessary to table such an adjustment.

We will table a second adjustments budget in October together with the Medium‐Term Budget Policy Statement.

This Budget does two things.

First, it brings an Adjustments Appropriation Bill and a Division of Revenue Amendment Bill to the House. It also formalises the two tax bills to give effect to our response. These Bills ask Parliament to approve the response package for COVID‐19.

Second, Mr President, it lays a path for the direction you gave us on 21 April to:
“not merely return our economy to where it was before the coronavirus, but to forge a new economy in a new global reality” ...Read More