Medium Term Budget Policy Statement - statement by the UDM President (27 October 2010)

The UDM concurs with the Minister of Finance’s assessment that the economic outlook is grim. Despite marginal improvements in economic indicators, it is definitely not time yet to celebrate the end of the recession.

The UDM welcomes the exchange control reforms and other measures to stabilise the currency.

The UDM also welcome the Minister’s strong words on corruption. However, in this regard, and equally so for the other policy priorities that he identified, we are sceptical about Government’s commitment and ability to delivery. These sound like the same old promises dressed up in new language. A prime example of this is the so-called new growth plan – we have seen the RDP, GEAR and ASGISA come and go without any impact on the massive unemployment in this country.