TAX BLOG

Good news for Taxpayers

We have summarised what we think are the important and beneficial points from Finance Minister, Pravin Gordhan mid-term budget review.

 

  • He clamped down hard on his own government spending from the presidency, government leaders, ministers to mayors which received the endorsement of his cabinet. These radical changes estimate at making a saving of around R2billion when applied across the board. From the 1st of December 2013 he has put an end to:
    • official credit cards
    • million rand vehicles
    • luxury hotel stays
    • expensive home upgrades for cabinet members
  • Continues his support for growth, job creation and fiscal moderation.
  • He also gave assurances that the budget deficit would decrease in coming years, and added: "We think we have what we need to manage any turbulence that might arise."
  • The police ministry received a sizeable budget adjustment:
    • R202 million will pay for improving detective services
    • R20 million will go towards the embattled crime intelligence division
    • R444 million will be spent on increasing visible policing
  • Tabled the focus to move on privatisation of state-owned enterprises, he repeated that the state had to rationalise its assets, including selling off those that served no useful purpose.

    Mediam Term Budget Policy Statement 2013 - Speech by Pravin Gordhan Minister of Finance

 

Source: Fin24


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