Nene hit from left and right

Finance Minister Nhlanhla Nene was under fire fromboth the EFF and the DA during the debate on the National Treasury's budget yesterday.

While the DA attacked the ANC government's stewardship of the stagnant economy, the EFF's Floyd Shivambu said the National Development Plan (NDP) was repeating failed policies.

In his speech Nene said development was a long-term project and that future generations could not be burdened with today's errors.

"As we knuckle down to implement the NDP we should also remember that precisely because national development is a long-term project it must be financed sustainably," he said.

The DA's Dion George said the economy was unable to recover due to incoherent policies.

The DA wanted assurances from Nene on how the NDP, which the party supports, will be rolled out. George demanded that spending be reined in, referring to the expanding number of government departments.

While being heckled by ANC members, Shivambu said "trickle-down" economics had not worked anywhere.

Nene said: "Over the next three years government will stabilise the growth of public debt, and then begin to rebuild fiscal space. This will be achieved by remaining within the expenditure limits."

He said national debt was R1.59-trillion, compared with R525-billion in 2008. It would reach around R2-trillion in the three-year framework.