What started as a mere review of the budget speech by the bank management and a selected few financial experts has now turned into an important forum at which the captains of industry, intellectuals and other stakeholders exchange views on pertinent issues that pertain to the allocation of national resources.
This platform has become highly regarded by leaders and opinion shapers to the extent that every year, it is over-subscribed by interested business people and government officials. Issues raised in some of these seminars have found their way into the budget. It is gratifying to observe that during the past 10 years, Ministers of Finance and Development Planning have used the issues raised at these seminars to shape the economic and financial strategies of the country.
From the government’s perspective, this forum does offer an important window to learn and appreciate the private sector perception of how the resources of the country can be utilised. The smart partnership between government and the private sector is reinforced by such an open forum, at which various economic and financial matters are analysed by the private sector in its endeavour to bring efficient resource allocation.
The private sector in any country plays a major role in providing government with resources to carry out its public obligations. It is therefore essential that an exchange of views of this nature is solidified to offer a window of accountability by government. From a mere 50 to 60 attendants in the beginning, the FNB budget breakfast now attracts over 250 people. Perhaps other institutions should copy the example of FNB to stage similar events, where ordinary people will debate the budget in their local language at the local level. It is time we take parliament to the people by using the budget as a starting point followed by the State of the Nation address.
What perhaps needs to be attended to immediately is to ensure that groups like the unemployed, the disabled and the poor are invited to these forums. Nobody is better qualified to articulate the aspirations of the poor than those who live and experience poverty.
FNB should be congratulated for sponsoring the budget breakfast that is proving to be a milestone. We wish the FNB Budget Breakfast grows to greater heights.
