2016 budget speech
Political parties urged to set aside narrow agendas
Deputy Finance Minister Mcebisi Jonas says parties need to put the interest of the country first.
Parties earlier debated the budget tabled by Minister of Finance Pravin Gordhan last month.
The finance minister is currently on a mission abroad to meet with investors and ratings agencies.
Faced with complexities, the National Treasury has to make difficult decisions.
Christopher Malikane says the Budget mainly serves to reproduce the structural problems faced by the economy.
Gordhan says based on current treasury estimates, SAA will still need R2 to R3 billion a year over time.
Pravin Gordhan wants the country’s interests put first, before party political or election interests.
The unemployment rate fell to 24,5% in last year’s 4th quarter compared to 25,5% in the quarter before.
Leon Schreiber asks if the finance minister can allay the fears of credit ratings agencies and investors.
Yesterday Pravin Gordhan detailed measures aimed at jumpstarting economic growth.
#Budget2016: The Bear With The Sweet Tooth
Economist Rian le Roux says the tax increases weren’t as high as the markets expected.
He says the finance minister allocated resources to sectors that the ruling party prioritised.
Pravin Gordhan says there’s going to be much closer collaboration with business in future.
Finance Minister Pravin Gordhan has announced a personal income tax relief of R5.5 billion focused mainly on lower and middle-income earners.
An additional R16.3 billion has been allocated to higher education over the next three years.
Finance Minister Pravin Gordhan says government will implement a sugar tax on sweetened drinks.
Gordhan delivered a budget that will cut government spending by R25 billion over the next three years.
The minister has unveiled a plan aimed at reigniting economic growth.