Overview: Nene takes a knife to government spending
Departments not involved in service delivery bear brunt, with fillip for health, education and defence
Budget highlights deficit challenges for government, says Fitch
Rating agency says 2015 budget statement highlights challenge government faces in narrowing fiscal deficit and containing debt without denting country’s sub-par growth
Budget: Nene targets the fiscal gap
Power crisis can cut growth, no mention of selling assets, personal tax to rise
Personal tax: Upper bracket only will feel effect of an increase
Expectations of punitive tax increases for individuals prove unfounded
Budget in a nutshell: taxes up by 1 percentage point
Middle- to high-income taxpayers will be hit with hike in their tax rates as well as a sharp rise in fuel levy
Government honours undertaking to cut travel expenses
Hospitality official backs up government’s claims it has cut back spending on travel
Opinion
EDITORIAL: Nene fails to give crucial details
No mention in the budget of how two huge future financial commitments the government has made on our behalf — national health insurance and nuclear procurement — will be funded
Employment: Sober forecast for a waning growth outlook
Finance minister says best short-term prospects for faster growth lie in less energy-intensive sectors
Wealth taxation: ‘Shared sacrifice’ key to courting investment and ending instability
South Africans have seen huge growth in their assets since the global financial crisis, writes Xhanti Payi
Companies: Some relief for small businesses
Amendments make turnover tax regime more attractiveGovernment owned enterprises: State assets’ problems ‘result of governance failure’
Financial problems of state-owned enterprises mostly a result of governance failures and inadequate policy frameworks, says Treasury
Power: Nene confirms R23bn cash injection for Eskom
Reliability of energy supply is ‘most important structural challenge’
Budget: Education given heftiest slice of the pie
Finance Minister Nhlanhla Nene announces that education will continue to receive the lion’s share of the national budget
Security spend: High crime levels spark funding hikes for security services
Departments making up the public order, security and defence cluster will receive significant increases in budget allocations over next three years
Anti-corruption institutions: public protector to receive R60m boost
Government set to strengthen institutions that fight corruption, with Office of Public Protector and Financial Intelligence Centre receiving R60m respectively
Infrastructure: Economy-boosting projects on the rise
Public sector spending on economic infrastructure now at highest level as a share of GDP in 25 years
Land redistribution: Freedom Front Plus bewildered by R4.7bn allocated to land reform
Land reform a contentious issue following President Jacob Zuma’s state of the nation address
Roads: New monthly ceilings could end e-tolls impasse
Government will provide assistance to people who find it hard to pay
Health: New funding model to benefit laboratories
Move sees reduction in fees and direct transfer for research costs
Budget deficit: Confident Treasury has three-year plan to hit target
Budget review revises the 2014-15 consolidated budget deficit down to 3.9% of gross domestic product
In the end, individuals have to stand in for state debt
Most of us do not realise that our present and previous finance ministers have accumulated debt to the value of about R40,000 on behalf of every individual in the country, writes Dawie RoodtBudget: Fuel levy hike will bring in R10bn a year
Increase in the Road Accident Fund fuel levy will provide temporary relief to the cash-strapped fund, says CEO Eugene Watson
Wages of sin: Smokers and drinkers will pay more for their vices
But there is hope for those who prefer brandy and sparkling wine
Budget: rural councils still to benefit from funding allocations
Budget tabled will support close links between the state and SA’s largest cities
Opinion
Reaction: Markets express mild disappointment, with bonds and rand weakening slightly
Maarten Mittner
Markets’ initial reaction to the 2015 budget muted
Opinion
Fiscal consolidation plan is finance minister’s challenge
Hilary Joffe
SA’s public debt level has deteriorated faster than those of most of its emerging-market peers
Tax increases ‘should be kept to minimum’, says Sacci
SA needs a special focus on the plight of small businesses, according to business body
Minister may widen fiscal deficit targets
Finance Minister Nhlanhla Nene last year proposed raising an extra R12bn, writes Rene Vollgraaff
Government to increase spending from R1.24-trillion to R1.56-trillion
Basic education to receive R647bn, including R36.7bn on school infrastructure, while health spending will receive R502bn
State hopes to reach ‘fair, sustainable’ public-sector wage deal
Government hopes to reach fair, sustainable public-sector wage agreement that protects purchasing power of public servants, says Treasury director-general
Budget: Slower revenue growth constrains spending
Nene seeks improved growth performance, with a call for investment and strengthening of public institutions
Profile: Nene takes formidable workload and studies in his stride
Energy crisis and SAA latest additions to minister’s portfolio, writes Hilary Joffe
State salaries: Public service wage bill is ‘concerning’
South Africa saddled with a problematically high wage bill for public servants
Managing risk: Treasury needs to put plans in place to mitigate potential future hazards
Treasury has identified several risks to its growth and fiscal trajectory over the next three years which could throw a curve ball at its assumptions
Treasury revises down budget deficit amid higher revenue collection
Treasury revises down 2014-15 consolidated budget deficit to 3.9% of gross domestic product from 4.1% amid higher revenue collections, slower growth in government spending
Health budget projected to grow 7.1% over next three years
Spending on the National Health Insurance programme lower than anticipated over past two years, partly due to difficulties in contracting general practitioners
Broadband connectivity gets R1.1bn boost
Total of R1.1bn is allocated for roll out of broadband to 1,126 government buildings and 926 schools by March 2016
Total government spending reduced by R25bn
Budget review says bulk of budget reductions are on goods and services, while compensation as a share of expenditure will also decline to 34.5%
Treasury does not expect ‘sharp rand depreciation’ in 2015
The Treasury says it does not anticipate a ‘sharp depreciation’ in rand in 2015 as investors appear to have priced in risks of higher interest rates in US
SA’s 2015 growth revised lower as electricity woes dent confidence
Treasury revises SA’s economic growth forecast for 2015 to 2% from 2.5% in October amid nation-wide power outages that are disrupting output, denting investor confidence
Debt service costs ‘remain a challenge’
Treasury says costs of financing government debt — fastest-growing component of main budget — are projected to increase
Local economic development spending to increase
Budget Review says more than 90% of expenditure will be allocated to housing, services provided by local governments
- Health budget projected to grow 7.1% over next three years
- Social protection expenditure increases to cater for more beneficiaries
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EDITORIAL: To succeed, Nene
needs support - Job creation has to become government’s top priority
- Revenue shortfalls will put tax mix on budget agenda
- ON THE MONEY: Tax hikes to temper tax-free savings
- Rich to shoulder new budget hikes
- Nene needs to grasp the nettle
- Universities get bulk of education spending
- Departments reprioritise funds to beef up corruption-busting bodies
- Nene urged to make real commitment to fiscal discipline
- Tax increases unnecessary, says DA
- Tax hikes ‘will hurt cash-strapped consumers’
- Morality at play for South African taxpayers
- Nedbank urges Nene to restore investor confidence
- Treasury bids to empower local councils
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