2012 BUDGET SPEECH BY PRAVIN GORDHAN PDF

Budget Speech by the Minister of Finance of the Republic of South Africa, Mr. Pravin Gordhan. Cape Town, 22 February Honourable speaker. Feb 27, Read the full National Budget Speech document delivered by Finance Finance Minister Pravin Gordhan alongside ministry of finance officials As we pointed out in the Budget, global economic uncertainty will. Feb 22, Minister of Finance Pravin Gordhan will be in the spotlight as he delivers the government’s Budget Speech.

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Following on the announcements bbudget previously to introduce measures to improve financial management and help combat corruption, I can report that there has been progress on several fronts. Financial management and combating fraud and corruption Following on the announcements made previously to introduce measures to improve financial management and help combat corruption, I can report that there has been progress on several fronts.

Expansion of further education and skills development is a key long-term priority, alongside improving the quality of basic education and broadening access to adult education programmes. During the current financial year, SARS has already confiscated 3. Financial support for housing speec is expanded over 212 period ahead, additional funding is allocated for the finance-linked individual subsidy programme, and further capitalisation of our housing finance institutions is proposed.

It is a story that must be written by all of us. A mortgage support facility is under consideration. In our view these concerns can be addressed in the design and implementation of the incentive. Not just by business.

Pravin Gordhan`s budget speech – DOCUMENTS | Politicsweb

These and other measures have helped increase the proportion of on-time submission. Not just by government. There pravij expanding opportunities on our own continent. By phasing in our fiscal consolidation over the medium term, we avoid the social and economic dislocation associated with more rapid adjustments, while still stabilising the fiscal position without burdening the economy and future generations with excessive debt. There are expanding opportunities on our own continent.

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Carbon tax A revised policy paper on a carbon tax will be published this year for a second round of public comment and consultation. Access to telecommunications services is financed by private operators, and our airlines industry has several private sector players.

Newsletter.

Corporate tax measures Several measures are set out in sppeech Budget Review to improve the corporate tax environment, Mister Speaker: It is proposed that the current exemption for brokers should be abolished. Education, health and social assistance budgey remain the largest categories of expenditure, sustaining and expanding the social wage over the MTEF period ahead.

Mister Speaker, if we are to succeed in putting our economy on a more rapid and inclusive growth path towe need to effectively direct and manage the levers of change – levers that activate both public and private sector energies and capabilities. Mister President, you have given us a clear and historic challenge to “write a new story about South Africa – the story of how, working together, we speevh back unemployment and reduced economic inequality and poverty. Vision for the economy in Mister President through your leadership we are able to say to South Africa and the world that we have a vision for our country and our economy — gordhna we want to get to in the next 20 years.

Since April over taxpayers have been successfully prosecuted for a range of tax- related offences resulting in sentences totalling pravn and nearly R5 million in fines. There should be little overall impact on electricity tariffs. Medium-term expenditure proposals In our spending recommendations, Mister Speaker, we have taken advice from Amanda Mzulwini.

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Mpho Mashishi suggested using communities to arrest youth unemployment by revitalising townships through gyms, sporting teams and leagues, tutoring projects and clean-up operations.

A sustainable fiscal framework, based on the principles of counter-cyclicality, nudget sustainability and intergenerational equity underpins our growth strategy.

But professionalism, hard work and commitment to value for money are preconditions for successful project delivery.

SECTION27’s statement on the Budget Speech – Section 27

The idea of unity in action, working together to realise practical goals, must be revived. National Treasury plans to develop a national price reference system, to detect deviations from acceptable prices. Our development strategy requires a capable state, and active citizens. Vele hande maak ligte werk. I thank Cabinet colleagues for their backing, even when further haircuts have been proposed.

Key features of the budget framework include:. In brief, Mister Speaker, today’s budget advises the following: A budget deficit of 4.

A venture capital incentive is available for junior mining companies.

An amount of R million is added to the baseline of the national department over the three-year spending period to extend the national assessments system. Users benefit through pdavin vehicle operating costs, time savings and improved safety. Pension funds will benefit from this transition as they will receive dividends tax free. The health sector is allocated an additional R