Budget Speech
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
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
References: * www.fin24.com/budget/gordhansnationalbudget * Cape Times, Business Report, Thursday Feb 28 2013, pages 21-23 * Budget 2013 People’s Guide, Thursday Feb 28 2013