News 11:00

BULLETIN 11 March 11 am

Good morning. I am……..

In this bulletin:

# BLSA says the budget speech is happening in a rapidly changing geopolitical context
# OUTA exposes corruption in vehicle roadworthiness testing
# And the former president of the Philippines, Rodrigo Duterte, is arrested on an International Criminal Court warrant

# Business Leadership South Africa says the rapid changes in global geopolitics mean that the budget speech will take place in an entirely different context. Finance minister Enoch Godongwana is set to deliver the budget tomorrow after it was postponed last month due to a contestation of a proposed two-percent value-added tax hike. BLSA CEO Busisiwe Mavuso says the US withdrawing funding to the country means government will have to pick up some of the slack. She adds government must allocate spending to where it can drive investment.

Meanwhile the People Against Budget Cuts says it rejects any VAT increases in the budget and is demanding an end to the austerity measures that have negatively impacted communities. Spokesperson Busi Mtabane says government must reconsider its budget allocations and ensure that economic policies serve the people, not just the elite:

# The Organisation Undoing Tax Abuse has uncovered widespread corruption in South Africa’s vehicle roadworthiness testing system. Their investigation revealed that some vehicle testing stations issue roadworthy certificates without performing physical inspections, often in exchange for bribes. The organisation’s findings highlight the risks to public safety, as unroadworthy cars contribute to fatal accidents. OUTA’s Rudie Heyneke calls for a comprehensive investigation and stricter regulations:

# Former Philippine president Rodrigo Duterte has been taken into custody after the International Criminal Court issued a warrant for his arrest for crimes against humanity. During his time in office, the 79-year-old presided over a brutal anti-drug crackdown that killed more than six-thousand people. The ICC says it has jurisdiction in the Philippines over alleged crimes committed before the country withdrew as a member in 2019. Human Rights Watch says Duterte’s arrest is a critical step for accountability in the country.

# Soccer: Manchester United’s co-owner, Jim Ratcliffe, says the club would have run out of money by the end of this year if proactive measures were not taken. A mid-season rise in some ticket prices and hundreds of redundancies are among the moves taken by the club, which have attracted criticism. Ratcliffe told BBC Sport his mission is to make United the most profitable club in the world and to do that, difficult decisions need to be taken:

# And the financial indicators: The dollar trades at 18-rand-31-cents and the euro at 19-rand-88-cents. One British pound costs 23-rand-61-cents and Bitcoin trades at 80-thousand-239-dollars. Gold sells at two-thousand-901-dollars-36-cents a fine ounce and Brent crude oil is quoted at 69-dollars-8-cents a barrel.

Stay tuned for more news………….