- Ranjeni Munusamy
If South Africans are annoyed now with wanton spending in government to keep the top set in the lap of luxury, imagine what it will be like from February when higher taxes are announced? Finance Minister Nhlanhla Nene set out in his first Medium-Term Budget Policy Statement on Wednesday just how bleak the economic outlook is, and a range of measures to curb spending and raise revenue. The statement was largely aimed at pacifying ratings agencies to avoid another sovereign credit ratings downgrade. But if Nene is to succeed where his predecessor was frustrated in getting more bang for his buck, he needs the president and his Cabinet to fully buy into his reformation agenda. By RANJENI MUNUSAMY.