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Emboldened by the president’s state of the nation speech, which heralded an ambitious new infrastructure push, finance minister Pravin Gordhan has gone on the offensive.
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Nicolaas Kruger SA is a progressive emerging-market economy that continues to outperform many developed ones. However, we face some unique challenges, one of which is our tendency to focus on our problems rather than our achievements.
David Furlonger Economic uncertainty will remain a fact of SA life for some time, Pravin Gordhan told parliament. But sound management will see SA through potential troubles.
Mark Van der Watt Each year, South Africans eagerly await the release of the budget to see how government views its long- term priorities and allocates funds. But how many SA households annually review their own budgets with the same degree of fervour?
Shannon Sherry The rural development & land reform department’s expenditure on consultants alone ballooned to almost R660m in the past financial year.
Razina Munshi “No good project will be short of funding.” That’s the word from finance minister Pravin Gordhan. He took the lead from President Jacob Zuma’s state of the nation address, which placed infrastructure development at the heart of SA’s economic growth plans.
Morris Mthombeni Much will be written about the business end of the budget and that’s as it should be — we need to understand the numbers. We must also establish whether the budget best supports the policy choices espoused by various government departments.
Xolile Bhengu Finance minister Pravin Gordhan was short on detail when it came to how the National Health Insurance (NHI) scheme will be funded. But the 2012 Budget Review does say treasury has allocated R1bn to fund the proposed five- year NHI pilot project in the run-up to the planned provision of universal health care.
Phillip Matlakala It would have been hard to predict US president Barack Obama’s current low approval ratings back in January 2009 when he was inaugurated. But since the onset of the financial crisis, the US has done well to stabilise financial markets and create jobs.
Kwanele Sibanda Following finance minister Pravin Gordhan’s delivery of his 2012 Budget speech on Wednesday, the following are comments about his ability to master a balancing act:
Kwanele Sibanda A senior economist at Old Mutual Investment Group SA (OMIGSA), Johann Els says he does not think there will be any big surprises contained in this year’s national budget.
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Razina Munshi After a public outcry, national treasury will relieve the burden of Gauteng motorists by providing the Gauteng Freeway Improvement Project with a R5,75bn bailout. Lise Pretorius All things sinful will, as expected, come with a higher price tag — an attempt at discouraging the unhealthy habits of booze, cigarettes and gambling. Lise Pretorius All things sinful will, as expected, come with a higher price tag — an attempt at discouraging the unhealthy habits of booze, cigarettes and gambling. Maarten Mittner An ombudsman for tax matters is expected to be established this year. Lise Pretorius Dirty is becoming expensive. South Africans have already been paying a carbon tax of sorts through the levy on electricity generated from non renewable sources, and from July 1 they’ll be paying 3,5c/kWh - an increase of 1c/kWh. Ruan Jooste SA is not known for having the most business- friendly tax environment , but national treasury has made an effort in the 2012 Budget Review to bring some clarity to the business realm. David Williams Though the defence budget has again increased by a seemingly respectable amount (R3,1bn, or 9%, to R37,4bn), the numbers mask a persistent imbalance in the allocation of resources within the SA National Defence Force. Joan Muller While many no doubt hoped for further transfer duty relief in this year’s budget, it’s no surprise that the tax-exempt threshold for home buyers has been kept at R600000. Maarten Mittner Finance minister Pravin Gordhan has again warned banks their fees are too high. He delivered a stern warning in last year’s budget, saying he would take the matter up with banking executives. Zweli Mokgata Government aims to increase the number of small and medium-sized enterprises from 5m to 8m by 2014. Stephen Cranston With so little news on retirement fund reform, something needed to be introduced to show that government is serious about encouraging savings. |
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