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

Deprioritised
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
The...
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