Budget Speech

Topics: Tax, Income tax, Income Pages: 2 (452 words) Published: April 10, 2013
The budget speech for 2013/2014 was given by Finance Minister Pravin Gordhan at the National Assembly in parliament, Cape Town on the 27 February 2013. Priorities
Infrastructure – the government will over the next 3 years invest R827 billion into building new and upgrading existing infrastructure. Spending plans over the next 3 years include:
* R5.2bn is to the local government equitable share
* R4.2bn to the provincial government share
* R3.2bn to the Passenger Rail Agency of SA
* R2.6bn for regional water infrastructure * R1.9bn for municipal water infrastructure
* R1.5bn for De Hoop Dam
* R1.4bn to the SA National Roads Agency
* R1.1bn for the Square Kilometre Array
* R0.6bn towards the science and technology infrastructure * R1bn to provinces to increase numbers of teachers and R800m for Gr R teachers * R1bn to the human settlements grant
* R900m to the integrated national electrification programme

Education – focus on improving numeracy and literacy by reducing schooling infrastructure backlog. R232,5 billion will be spent in this sector.

This will be split up as:
* R164bn to basic education
* R28.7bn to tertiary education
* R9.1bn to recreational and culture
* R10.6bn on vocational education
* R10.6bn on educational admin.

Employment – this programme which aims to create 3.7 million jobs by encouraging firms to employ young workers will be tabled for consideration by parliament.

Health – this remains a focus for the government and the budget for it is R133.6 billion. This can be split up as:
* R91.6bn split to all health services
* R18.9bn for central hospital services
* R10.2 to health infrastructure
* R12.8bn towards HIV/AIDS &TB

The attention on personal tax was not the main focus as accordingly in the 2013/2014 fiscal year personal income tax relief of R7 billion was granted.
Economic Targets
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • the operating budget assignment 1 Essay
  • Essay on The Budgetary System of Bangladesh & Remedies to Overcome Budget Deficit
  • National budget vis-a-vis local budget Essay
  • Cash Budget Essay
  • Capital Budget Essay
  • Essay about Prominent Speech Analysis on “How State Budgets Are Breaking Us Schools”
  • Cafr – Budget Analysis Essay
  • Budget Essay

Become a StudyMode Member

Sign Up - It's Free