It is my honour and privilege to table before this House the 2022 National Budget.

Today I am tabling the following documents:

Madam Speaker, we stand here galvanised by the State of the Nation Address delivered by His Excellency President Cyril Ramaphosa.

The President reminded us that even as we face steep and daunting challenges, like we have done in the past, we will overcome.

To do so, we need to strike a critical balance between saving lives and livelihoods, while supporting inclusive growth. This budget presents this balance.

Our economic recovery has been un-even and risks remain high. We must proceed with caution.

In the 2021 MTBPS we committed ourselves to charting a course towards growth and fiscal sustainability. This budget reasserts this commitment.

It narrows the budget deficit and stabilizes debt.

It also extends income and employment support to the most vulnerable, , addresses service delivery shortcomings and provides tax relief.

However, these interventions cannot replace the structural changes our economy needs. Difficult and necessary trade-offs are required.