Ahead of our Alternative Budget tomorrow, the Democratic Alliance is launching a social media graphic to focus attention on South Africa’s debt crisis.
Years of the ANC government spending too much and borrowing too much, long before the Covid-19 crisis, have left the country with R4 trillion in debt. That is why there is not enough money to help people now.
All of this debt must be paid off in years to come, and that means that every South African, our children and our grandchildren will inherit the burden of paying off this debt.
Every child born in South Africa today already owes R67 000 before they have even taken their first breath. And this number is going up as the government continues to borrow more and more.
The more the government borrows, the more we will all have to pay in interest – leaving less and less money for basic services like education and health.
This is a double injustice against future generations – more debt to pay off, and less basic services. It is just wrong to sacrifice our children’s futures. They deserve better.
The ANC government must get debt under control, before it takes the whole country down with it. It has to stop.
Tomorrow we will present a credible plan to get debt under control and start to reduce the burden on future generations of South African children.
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