Federal Minister of Finance and the Treasury Dr Wikus Koekemoer piloted the SLP's first major budget in the House of Representatives since the party was re-elected to government months prior. The theme of the budget was hinged on rebuilding the national economy and transforming Saridan into an incubator for innovation. With the economy receiving minor amounts of attention from the previous caretaker governments, Dr Koekemoer stated that he intends on going all out on the economy. Having had deep stakeholder consultations with numerous entities from both the public and private sectors, and numerous rounds of discussions with the Economic Advisory Council, of which he is a member, Koekemoer stated that the budget was "the first economy to approach recovery through a whole of government approach." He noted that decades of recessions and depressions have significantly scarred the national economy. "Macroeconomic policy up to now has been virtually non-existent, in drafting this budget it became increasingly clear to the government that there was an urgent need to recalibrate macroeconomic policy to reflect the realities of our current economic situation." He lamented that the macroeconomic policies of the previous governments were executed and enforced with the concept of "one shoe fits all," rather than policies being made on a sector-by-sector basis. He noted that in many instances, some of the economic policies introduced by previous governments have done more harm than good. He explained that where previous governments pulled back on increasing spending in education, seeking to redirect critical funding for improving Saridan's education towards the nation's rapidly diminishing defence industry. "Whereas we should have been pouring in billions of dollars into supporting provincial governments on creating innovative programmes to improve the quality and reach of education in the provinces, money was poured into an industry which it was clear from the onset, was on its way out." According to the Minister, the government's budgets in the coming decades would focus on five (5) core positions: (I) Vocational Training, (II) Improve the quality and accessibility of education (III) building a sustainable welfare system (IV) providing affordable housing (V) establishing an enabling environment for innovation and growth.
Speaking on the government's vocational and technical training agenda, Dr Koekemoer stated that the programme is already operational, having been launched months prior by Federal Minister of Labour and Social Services Viktor Arjoon. He explained that the federal government maintained an obligation to provide as many opportunities for Saridani citizens to thrive in the modern economy as possible. He noted that in many instances persons do not possess the qualifications to move onto the next states of life and are many times stuck in one position. "It is important that we grant persons the opportunity to utilise alternative pathways to success." According to the Minister, the federal government intends on commissioning a manpower plan to ensure that the students of today are prepared to take full advantage of the future economy and become highly-skilled labourers, scientists, teachers etc of tomorrow. The plan is expected to be commissioned by a tripartite team of the Federal Ministry of Economic Affairs and Communication, the Federal Ministry of Labour and Social Services and the Federal Ministry of Education, Culture and the Arts. The Minister also stated that the Federal Ministry of Seleyan and International Affairs had already begun the process of requesting that international governments and their respective education systems begin to recognise Saridani educational qualifications as either better than or equal to their own.
In seeking to craft an ambitiously broad vocational and technical training programme, the Federal Government remains committed to enhancing the quality and accessibility of education. Speaking on education for all, Dr Koekemoer announced that the government would work towards implementing free education for primary, secondary and tertiary education. He explained that if Saridan wanted to become a major competitor in the global economy, an educated workforce remained one of the few ways such a goal could be achieved. He stated that the Federal Government intends on introducing a suite of subsidies in the education sector to ensure that everyone, regardless of age, ethnicity, gender or socioeconomic stance could have access to quality education. He announced that some 100 billion dollars would be distributed among the provincial governments to aid in the construction of new schools, the hiring of new teachers and the transformation of provincial educational districts to allow for greater integration of emerging technologies in education. Dr Koekemoer stated that as the government operationalises free education for all, it intends on ensuring technological advances find their way to students. "Particular attention is going to be placed on STEM programmes, ensuring that our students are prepared for the jobs of the future economy. We will craft a digitally competent child population who would go on to become tomorrow's technology innovators." The cost of education for all, according to the Minister would see the state incur some 400 billion dollars in the next decade as the government intends on ensuring that the process of obtaining an education in Saridan is accessible to all.
Speaking on the welfare system, Dr Koekemoer indicated that there was a great eagerness on the part of the federal government to rebuild the welfare state amidst centuries of far-right politics. He explained that a review of the welfare state conducted by the Federal Ministry of Labour and Social Services found that many of the progressive initiatives initiated underneath previous left-wing governments had been virtually destroyed. The Federal Superannuation Fund had been virtually drained as previous far-right governments used the pensions of federal employees to fund exorbitant rallies and unnecessary projects. The Minister stated that the Federal Ministry of Labour and Social Services was currently in deep consultations with numerous stakeholders on a complete overhaul of the Saridani welfare system. He stated that the Ministry of Labour and Social Services would seek to restructure the Federal Superannuation Fund to ensure that monies cannot be drawdown from the fund without the approval of the various labour unions which represent federal employees. Federal Minister of Labour and Social Services Viktor Arjoon later elaborated on Minister Koekemoer's statements on overhauling the welfare system. He explained that as Saridan is a federal republic, it means that many of the social welfare programmes would be devolved to the provincial governments with a special fund to be known as the Federal Assistance Fund (FAF) being an entity from which the provincial governments can drawdown funding for crucial welfare programmes in the areas of poverty alleviation and unemployment.
Speaking on housing, Dr Koekemoer stated that the government would make some 50 billion dollars available for affordable housing construction throughout the provinces. He explained that homelessness has been steadily increasing as the spectre of mass unemployment looms over the government. He lamented that the rate of housing construction by provincial governments was not fast enough to meet rising demand. In recognition of that, the federal government intends on making much-needed amendments to the Housing Development Act to allow for public-private partnerships. Apart from PPP in housing developments, tax incentives are expected to be rolled out for the private sector to encouraging property development firms to enhance their investment in housing schemes. Tariffs imposed on the importation of much-needed building materials are expected to be rolled back by the Federal Ministry of Trade and Industry to facilitate increased inflows of investment. There have been rumours of the federal government's intention to establish a federal housing corporation that will be responsible for the construction of homes, however, both Dr Koekemoer and Federal Minister of Economic Affairs and Communications, Dr Elani Witbooi stated that the responsibility of housing developments would really solely in the hands of the provincial governments. The Minister also spoke to the plight of first-time homeowners and renters. He explained that the federal government is currently looking at means to reduce housing prices for first-time homeowners. For renters, a Federal Rent Assistance Fund is expected to be created to offset some of the expenses associated with renting. Stakeholder consultations have already begun on potentially establishing a proportional cap on rent.
Addressing the issue of innovation and growth, Dr Koekemoer announced that the federal government would increase research and development funding for universities. A special fund is to be created to assist private firms in obtaining government funding for research and development. According to Dr Koekemoer, when private firms apply for funding from the fund, the government obtains a stake in the company relative to the amount of funding drawdown from the fund. He added that whilst the government intends on simplifying the federal tax regime, it also intends on introducing numerous tax incentives to encourage companies to invest in research and development. Particular attention is expected to be placed on Boerestaat, which Dr Koekemoer states will become a global hub for innovation. On enabling growth, Dr Koekemoer stated that the Federal Ministry of Trade and Industry would be seeking to improve the ease of doing business in Saridan through technology. He explained that the time it takes for someone to register a business in Saridan is among the slowest on the continent, owing to the numerous bureaucratic processes associated with business and work in the nation. The Business Development Agency is expected to be the implementing agency of the federal government's ease of doing business agenda alongside the Federal Ministry of Economic Affairs and Communications which is responsible for digital transformation in the public sector.