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The uMkhonto weSizwe (MK) Party has outlined firm expectations ahead of the 2025 Medium Term Budget Policy Statement, tabled on 11 November 2025. The party says South Africa needs a decisive break from austerity to confront unemployment, poverty, and widening inequality.
What Happened
The MK Party released a detailed statement warning that the country faces a severe economic and social crisis. National unemployment stands at 43.1%, the highest globally, while youth unemployment has surged to 72.4%. Among Africans, unemployment sits at 47.5%, and among African women it has reached 51.7%.
The party argues that past fiscal frameworks prioritised investor confidence over community needs, further deepening poverty and stagnation.
Official Response
The party called for a people-centred, developmental budget, driven by large-scale investment in infrastructure, industrialisation, and public employment programmes such as the EPWP and the Presidential Employment Stimulus. “We expect the 2025 MTBPS to shift away from austerity and rebuild the productive base of the economy,” the statement read.
The MK Party urged the state to mobilise all available fiscal resources, including:
• R392 billion Gold and Foreign Exchange Contingency Reserve Account surplus
• R140 billion UIF balance
• R645 billion Government Employees Pension Fund (GEPF)
It also demanded progressive tax reforms, including a wealth tax targeting the top 1%, to ease the tax burden on working-class and poor households.
Community Impact
If implemented, the party argues, these proposals would expand job creation, restore economic dignity, and support inclusive growth. They believe South Africa needs a fresh macroeconomic vision that prioritises people before markets and directs investment toward communities most affected by inequality.
