Gordhan: SA’s sound institutional framework will steady country

Gordhan: SA’s sound institutional framework will steady country

South Africa’s sound institutional framework, built on the foundation of the Constitution, will hold the country in good stead as it faces uncertainty at home and abroad, the Minister of Finance Pravin Gordhan said yesterday. Presenting his Medium Term Budget Policy Statement in the National Assembly, a hopeful Gordhan said the country would stand firm […]

Gordhan proposes measures to help state spend smarter

Gordhan proposes measures to help state spend smarter

Finance minister Pravin Gordhan detailed several initiatives to reign in the widening deficit and improve the impact of spending by, among other things, investing the balance of resource allocation in new infrastructure. Presenting his Medium Term Budget Policy Statement in the National Assembly, Gordhan said the budget deficit was expected to widen from 4.2% in […]

MPs welcome Gordhan’s measures to contain debt

MPs welcome Gordhan’s measures to contain debt

MPs have welcomed the Minister of Finance Pravin Gordhan’s measures to clamp down on public debt, following his tabling of the Medium Term Budget Policy Statement in the National Assembly yesterday. ACDP MP Steve Swart said: “He sent a very strong message to investors and credit rating agencies, that we are following a prudent fiscal […]

Growth in SADC region holds opportunities for SA business

Growth in SADC region holds opportunities for SA business

With the continued gloomy outlook in Eurozone countries and a slow down in growth in a number of developing economies, a rapidly growing Sub-Saharan Africa holds clear opportunities for South African businesses, the Minister of Finance Pravin Gordhan said yesterday. Tabling his Medium Term Budget Policy Statement in the National Assembly today, Gordhan said opportunities […]

Gordhan: Depts must seek greater value for money

Gordhan: Depts must seek greater value for money

Departments will have to consolidate programmes and activities, and seek greater value for money from what is available in the Fiscus, the Minister of Finance Pravin Gordhan said yesterday. Presenting his Medium Term Budget Policy Statement, Gordhan said budget allocations to departments remain largely unchanged over the 2012 Budget, reflecting the challenging economic environment and […]

Municipalities to take over housing, public transport

Municipalities to take over housing, public transport

Building new low-cost houses and rolling out public transport would be devolved to municipalities and greater technical support will be provided in rural areas, the Minister of Finance Pravin Gordhan said yesterday. Tabling his Medium Term Budget Policy Statement in the National Assembly, Gordhan said local government would also see a R500 million reduction in […]

State finance institutions mooted to help fund infrastructure

State finance institutions mooted to help fund infrastructure

Government is exploring options aimed at boosting infrastructure funding through enhancing the role of the country’s development finance institutions and by mobilising private-sector capacity, the Minister of Finance Pravin Gordhan said yesterday. Gordhan’s Medium Term Budget Policy Statement, which he presented in the National Assembly, reveals that the pace of public infrastructure spending has picked […]

SARS to introduce mechanism to reduce tax clearance fraud

SARS to introduce mechanism to reduce tax clearance fraud

Finance Minister Pravin Gordhan has announced that in a bid to reduce corruption in the tax clearance request process, the South African Revenue Service (SARS) has developed an electronic mechanism for taxpayers to provide real time, up-to-date and continuous tax status to interested parties. “The use of a unique one-time access pin will significantly reduce […]

Report to assess sustainability of state’s spending options

Report to assess sustainability of state’s spending options

The National Treasury is expected to next month release the preliminary findings of a long-term fiscal report that will assess the sustainability of spending options in light of demographic and economic projections. The report, says the Medium Term Budget Policy Statement which was released yesterday by the Minister of Finance Pravin Gordhan, will look at […]

R461.1m Afcon spending was ‘cut to bone’

R461.1m Afcon spending was ‘cut to bone’

The National Treasury has allocated an extra R461.1 million for South Africa’s hosting of the 2013 Africa Cup of Nations (Afcon) soccer tournament, but no spending will go towards “extravagances”, says Deputy Minister of Finance Nhlanhla Nene. Speaking at a media briefing held shortly before the Minister of Finance Pravin Gordhan presented his Medium Term […]

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