Gordhan keeps spending tight as budget raises growth alarm for SA
Deficit estimated at 5.2%, instead of projected 4.8%, R10.4bn sliced off expenditure and debt to hit 40.3% of GDP
Private sector must speed up investment in SA, says Gordhan
Finance Minister Pravin Gordhan tells Parliament’s two finance committees that the private sector’s contribution is integral to accelerating growth and employment
SA ‘treading water’ as problems mount — finance experts
Tax and financial experts say the prospects for growth remain a major concern
State spending has kept SA economy alive, says Gordhan
Policy of countercyclical spending enables government to let private sector take lead during booms and step in during recessions, says Finance Minister Pravin Gordhan
No austerity in South Africa’s 2013 budget, says Gordhan
An exclusive Summit TV interview with Finance Minister Pravin Gordhan about the main features of his budget and why austerity is not the answer for South Africa
SA first African country to introduce carbon emissions tax
This will make South Africa the second Brics nation and the first African one to introduce a tax aimed at reducing the emission of gases related to climate change
Youth wage subsidy, with incentives, gets green light
The National Economic Development and Labour Council package will include a tax incentive to private sector employers to employ young workers
Emphasis on discipline to rein in deficit
Finance Minister Pravin Gordhan says new policy initiatives over the next three years will be financed from savings, efficiency gains and reprioritisation
Carbon emissions tax hike not welcome, says Naamsa
Automobile body says the increase announced in the budget will likely add 0.5%-1% to the price of a car, but it does consider the lack of ‘tax shocks’ encouraging
Rating agencies praise prudent budget but warn about debt
Credit rating agencies have mixed views on Treasury’s 2013-14 budget presented to Parliament on Wednesday
Opinion
In the shadow of Marikana, a welcome change in direction
Tim Cohen
Gone are flirtations with Chavezism, ‘new’ economics, grand social plans and expansive supply-side spending. We are all business now
Mark Barnes may be disappointed by the increase in beer prices, but he is encouraged by Gordhan’s promise to spend wisely and efficiently
Gordhan got so many things right
Billions more is being wasted on wealth-consuming compliance, writes Leon Louw
Missed opportunities abound as state consumption grows again
EDITORIAL: A cautionary plastic-bag tale
Raising the tax on plastic bags shows the desperation of the Treasury’s search for money
Much of Finance Minister Pravin Gordhan’s speech was directed at business fears, not the rest of society, writes Steven Friedman
Gordhan opens window for dialogue with private sector
Finance Minister Pravin Gordhan’s 2013 budget can hardly be said to be a great inspiration, writes Mzukisi Qobo
Gordhan’s budget and SA’s leadership challenge
EDITORIAL: Focus must fall on the real economy
The National Development Plan is the lifeline South Africa must grab with both hands
Much of tax burden falls on the wealthy
South Africa’s small tax base inimical to the government’s spending goals, writes Evan Pickworth
Tax relief for individuals in ‘challenging times’
Finance Minister Pravin Gordhan has given some relief to individual taxpayers despite having limited room for expansion
Commitment to value for money
Basic schooling focus will be on literacy and numeracy, increased intake in grade R
Commission ‘binds all three spheres’ to fight local red tape
Presidential Infrastructure Co-ordinating Commission will introduce new way of implementing infrastructure projects in the government
Social grants increase but ‘no substitute for jobs’
The welfare sector gets a boost in this year’s budget with an extra R600m set aside to fund nongovernmental organisation
Tax relief for individuals in ‘challenging times’
Finance Minister Pravin Gordhan has given some relief to individual taxpayers despite having limited room for expansion
Mining needs supportive policy climate
Treasury’s review of SA’s mining taxation regime should focus on ‘sharing rents equitably and ensuring predictability, stability and competitiveness of industry’
Tax breaks to encourage companies to trade from special zones
R2.9bn tax incentive for special economic zones to encourage businesses to set up their enterprises in these zones
‘New trajectory’ needed to boost growth
Finance Minister Pravin Gordhan says modest growth hampers efforts to address challenges, current account deficit a concern
Gordhan keeps spending tight as budget raises growth alarm for SA
Deficit estimated at 5.2%, instead of projected 4.8%, R10.4bn sliced off expenditure and debt to hit 40.3% of GDP
SARS not forgotten; boost for home affairs
Finance Minister Pravin Gordhan says that over the three-year medium-term expenditure framework period, the Department of Home Affairs will spend R1bn on its information systems modernisation programme
Infrastructure spending slow but ambitious
State hopes to raise spending to R827bn within next three years
Opinion
Time to consider conditional grants similar to those in South America
Bronwyn Nortje
There is an increasing impetus for the Treasury to ensure that it gets the maximum social benefit for every rand spent, writes Bronwyn Nortje
Opinion
NDP: ‘Common vision’ to do more than reshuffling revenue and spending
Gavin Keeton
Limited scope for new government spending means that the focus must shift to achieving more from existing spending
SKA funding doubled to give big boost to SA science
The allocation to the Square Kilometre Array radio telescope will more than double to R2bn
Enormous variables in determining country’s budget trajectory
Economists say the deficit will be under-estimated again due to mining unrest, while Finance Minister Pravin Gordhan tries to rein in spending, writes Tim Cohen
Mixed response from political parties
Opposition parties worried about the realisation of the government’s long-term plans, such as the National Health Insurance
Arms deal paid, defence share covers Africa mission
Deployment of soldiers to Central African Republic will cost R830m over the next two financial years
Up to 60% of households to get subsidised services
Local government allocated R277.7bn as equitable share, and new formula to help municipalities with revenue shortfalls
New labour laws ‘against world trend’
Regulations will raise input costs, discourage companies from hiring staff
State opens door to private partnerships
The state plans to review its developmental activities and how they are funded
NHI affordability depends on rate of future growth
The Treasury’s discussion document on financing mechanisms for National Health Insurance is expected to be published for comment only later this year
Bad news yet again for drinkers and smokers
Excise duties on alcoholic beverages and tobacco products increase by up to 10%
Life made easier for JSE-listed multinationals
Treasury introduces new measures to support JSE-listed companies wanting to expand into Africa
Money for HIV and TB, but NHI finance document still delayed
Health to get extra funding over medium term, but Treasury document on funding National Health Insurance only expected later this year
Rising debt-to-GDP ratio risks turning into financial nightmare
State debt levels can potentially approach 50% of GDP in a matter of three years
More tax relief in budget for small businesses
Turnover threshold raised to R20m from R14m and graduated tax structure has been revised
Budget deficit widens to 5.2% of GDP
Finance Minister Pravin Gordhan says wider deficit is due to ‘revenue losses’, not because of ‘excessive expenditure’
Government spending to rise to R1.15-trillion, Gordhan says
Bulk of Finance Minister Pravin Gordhan’s budget to be spent on social services at R682.3bn, an increase of 7.8%
- How to keep money from ‘bottomless pit of wastage’
- Reforms to taxation of trusts follows SARS scrutiny
- Private domestic expenditure growth expected to slow to 3.1%
- SA needs R703bn inflows to finance current account deficit, Treasury warns
- Budget needs to mean something to the poor
- Gordhan urged to announce tough fiscal measures
- Parliament begins setting up long-awaited budget office
- Budget preview — wealthy individuals ‘may be lambs to slaughter’
- Manufacturing industry calls for incentives in budget
- Pressure will be high for rise in social spending
- All eyes on Gordhan, even Charlie Chaplin’s
- Budget 2013: talk of tax hikes hots up
- Budget preview — wealthy individuals ‘may be lambs to slaughter’
- Carbon tax in SA ‘will raise costs for heavy industries’
- Austerity ‘will wait for a later budget’
- Government cutting its wage bill, says Sisulu
- Silence on carbon tax may be broken
- Sacci seeks details on funding of government’s spending plans
- Call for broader tax break to foster study
- Motorists must brace for more price hikes
- Employment growth will be ‘moderate’ over next three years
- Budget shows ‘incremental’ approach to housing
- State committed to using agriculture to create jobs
- Economic growth seen to pick up over next three years
- Broad welcome for Gordhan’s ‘good’ budget
- R10.4bn in spending cuts as SA’s growth disappoints
- DA outlines how it would stimulate economy for 8% growth
- Carbon tax to be introduced from 2015
- Spending on social services will rise by 7.8%
- Freight and urban public transport are priorities for state spending
- Carbon emissions tax hike not welcome, says Naamsa
- JSE-listed companies to benefit from headquarter tax regime extension
- Individual taxpayers ‘cannot bear more financial strain’
- Small businesses hope for less red tape, allowing them growth funds
- Cosatu hopes budget will address income inequality
- Sell state enterprises, DA advises Gordhan
- SARS races against time to meet tax target
- Tough juggling act for Gordhan
- MPs to get help in budget scrutiny
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Medium-term budget 2012
Click here for BDlive’s in-depth coverage of the 2012 medium-term budget policy statement
Opinion Poll
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