Budget Speech 2017: The 1.3% growth rate expected for this year is much too low to turn around the economy and unemployment rate in the country.
Posts tagged “Budget”
The Nelson Mandela Bay Business Chamber welcomes the Medium Term Budget Policy Speech delivered by Finance Minister Pravin Gordhan today [26 October].
While Gordhan said during his Medium Term Budget Policy Speech that “as a nation we are at a crossroad, politically and economically”, he also found himself at a crossroad today: in the unusual position of facing charges in court next week, while having the immense pressure of presenting the Medium Term Budget.
Against the context of the tight business environment that we find ourselves in this year due to global and national economic conditions, we welcome Finance MEC Sakhumzi Somyo’s focus on greater austerity measures, as well as the driving of service delivery in the Eastern Cape.
Similar to our national wish list as the Nelson Mandela Bay Business Chamber, we wanted the Provincial Budget to focus on good governance on a local and provincial level to improve the service delivery of government to businesses in Nelson Mandela Bay.
MEC Somyo did succeed on this crucial matter to announce improved austerity measures for cutting back on expenditure in the provincial civil service. In particular we welcome his cost containment measures on wasteful expenditure and the containment of the provincial wage bill. It is imperative that the right people with the right skills should fill core programmes in the Departments of Health and Education, which yet again received the lion’s share of the Provincial Budget.
AGAINST the backdrop of students protesting outside of Parliament and disruptions inside of Parliament, Finance Minister Nhlanhla Nene delivered a balanced Medium-Term Budget Policy Statement (MTBPS) yesterday (21 October).
The Nelson Mandela Bay Business Chamber is disturbed by the scenes of violence from yesterday and we trust that government will come to an amicable solution to make fees for higher education more accessible.
The overspending that was deemed to be unauthorised amounted to R146 million.
Nelson Mandela Bay Chief Financial Officer (CFO) Trevor Harper will be walking a tightrope when he tables the 2014/15 Adjustments Budget in February next year.
On the downside, revenue from the sale of electricity will be less than initially...
National Treasury and Deloitte will conduct a “100% audit” of expenditure on the Integrated Public Transport System (IPTS) in Nelson Mandela Bay, the Budget and Treasury Committee has been informed.
City Manager Mpilo Mbambisa told the committee...
- Budget Speech was a balancing act
- BUSINESS CHAMBER RESPONDS: Medium Term Budget Policy Speech
- Provincial Budget 2016
- Reaction to Medium-Term Budget Policy Speech
- No new IPTS capital projects will be approved
- NMB adjustments budget - CFO will be walking a tightrope
- Treasury to conduct 100% audit of IPTS expenditure