News 06:00

BULLETIN 8 April 6 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa says the budget is a critical instrument to narrow inequality
# The MK Party calls for minister Mchunu’s resignation over the Matatiele child rape case
# And Nigeria wants to host the Commonwealth Games in 2030

# President Cyril Ramaphosa has defended the passing of the national budget, saying it is a critical instrument to drive development, eradicate poverty, and narrow inequality. Last week, Parliament adopted the fiscal framework, which included a 0.5-percentage point value-added tax increase. In his weekly newsletter, the president says the expenditure on the social wage can only be sustained if there are higher levels of economic growth. He adds that the budget reflects the priorities of the Government’s Medium-Term Development Plan.

Meanwhile, the GOOD Party says it will provide constructive alternatives to the VAT increase and personal income tax bracket creep. The party proposes raising revenue by reducing tax breaks for the wealthy, scrapping the employment tax incentive, and possibly using reserves to cover shortfalls. In the medium term, GOOD secretary-general Brett Herron suggests implementing a wealth tax on the ultra-wealthy and reviewing government spending.

# The MK Party is demanding the resignation of Police minister Senzo Mchunu following revelations that he misled the public regarding the Cwecwe child rape case. The party says Mchunu claimed DNA samples were collected from the principal of Bergville College in Matatiele, in the Eastern Cape, but it was later revealed no samples were taken. The party’s Nomahlubi Radebe called for full disclosure, accusing the minister of betraying public trust and compromising the investigation:

# The DA in Gauteng reports that provincial schools are deteriorating, with a maintenance backlog of 31.3-billion-rand. The DA’s Michael Waters says despite this, only 427-million-rand or 1.36-percent of the required funds has been allocated for repairs in the 2024/25 financial year. Waters claims unsafe conditions for learners as officials allegedly overlook the crisis. He calls the address of backlogs and ensures quality education:

# Canada has launched a complaint with the World Trade Organisation over the steep tariff imposed on car imports by US president Donald Trump. The WTO says Canada has requested dispute consultations with the United States concerning US measures imposing a 25-percent duty on automobiles and automobile parts from Canada. In the request, the Canadian government charged that the tariffs were inconsistent with the United States’ obligations under international trade laws.

# Commonwealth Games: The Nigerian Olympic Committee announced it has met the 28 March deadline for expression of interest to bid for the 2030 Commonwealth Games. Nigeria can only commence a formal bid with the backing of the country’s government. The country lost a bid to host the 2014 Commonwealth Games to Glasgow. A statement released by the committee said that Nigeria’s bid for the 2030 Games in the capital city of Abuja will present a unique opportunity to showcase its development, enhance its global standing, and invigorate its sports culture.

# And the financial indicators: The dollar trades at 19-rand-60-cents and the euro at 21-rand-39-cents. One British pound costs 24-rand-96-cents and Bitcoin trades at 79-thousand-271-dollar-30-cents. Gold sells at two-thousand-981-dollars-1-cents a fine ounce and Brent crude oil is quoted at 64-dollars-75-cents a barrel.

Stay tuned for more news………….