AN economist says following His Majesty King Mswati III’s Speech from the Throne during the official opening of the Third Session of the 12th Parliament, Cabinet must now return to the drawing board and begin turning the directives into tangible and actionable goals.
Speaking during the Kusile Breakfast Show yesterday, economist Sanele Sibiya said the speech had clear and practical goals. What the country now needed were specific projects to drive His Majesty’s vision.
He said the speech outlined goals, timelines and priorities that could guide implementation if properly followed.
The King issued 35 directives to be actioned by Parliament and Cabinet. Among them were issues touching on the economy, health, education, agriculture and infrastructure development.
Sibiya said it was now up to Parliament, noting that economists would be watching closely what the Minister for Finance presents when tabling the national budget.
He said they expected to see tangible measures aimed at shifting the economy in the right direction.
Sibiya added that the country needed to reduce reliance on Southern African Customs Union (SACU) receipts by expanding its domestic revenue base.
He said he hoped the next budget would introduce alternative tax measures beyond income tax and corporate tax, noting that the country needed to explore additional tax avenues to widen its tax base and strengthen major business sectors.
“Once we explore tax avenues that are currently underutilised, we can reduce dependence on SACU receipts. There are many steps we can take quickly to improve compliance. Parliament must enact new revenue streams and bring big business into the mainstream economy,” Sibiya said.
