18 Feb 2021

With the private sector currently lacking the capacity to diversify and grow the economy to desired levels, the state needs to intervene by creating a large scale investment arm of government in order to boost the economy and create jobs.

These were the thoughts of Bobonong Member of Parliament, Mr Taolo Lucas as he made his contribution to the Budget Speech debate at the National Assembly on Wednesday.

Mr Lucas said the current budget was similar to those that were presented by different finance ministers over the past 40 years, which he said repeated the themes of economic diversification, growing the manufacturing sector and private sector-led growth.

But, owing to the domestic private sector not having grown to the right size to lead the process, the state needs to take an active role to guide economic diversification, he added.

He said one major commercial arm of government should be created to oversee the development of large scale manufacturing with various industries set up to create jobs countrywide.

MP Lucas added that taxes should be restructured and emphasis placed on higher taxation for multimillionaires, large scale land owners, private mining companies and businesses that expropriate their profits offshore.

He said the poor should be given tax relief as they were already struggling with their income.

Regarding his constituency, he said roads linking villages such as Bobonong, Mathathane, Motlhabaneng, Lentswelemoriti and Plaatjan needed improvement to facilitate better movement and trade.

Mr Lucas also said there was congestion at the Bobonong Hospital caused by a shortage of staff which should be addressed. Ends