Gordhan did as well as he could - analyst

Finance Minister Pravin Gordhan on Wednesday presented the budget speech in Parliament.

Gordhan was expected to find R28 billion more for the government to run its operations well.

Sikonathi Mantshantsha, Deputy Editor at FM (Financial Mail) says the Finance Minister did as well as he could. In order to make a difference, South Africa needs about 5% growth per year to absorb the people that are unemployed, says Mantshantsha.

The matter of opening up and transforming the economy into one that could have capacity for growth it cannot be left to one person and the most unpopular person in the cabinet of ministers

Sikonathi Mantshantsha, Deputy Editor at FM (Financial Mail)

It should be a collective effort and should start right at the top

Sikonathi Mantshantsha, Deputy Editor at FM (Financial Mail)

Mantshantsha says government parastatals should use the money allocated to them efficiently. He says the country loses about R30 billion a year to irregular and wasteful expenditures.

CapeTalk's Kieno Kammies also spoke to Judge Bernard Ngoepe, South Africa's first Tax Ombud about the work that he does.

He says his office is there to ensure that Sars, in its attempt to collect tax from the people, it follows the right procedure.

Here are some of the budget allocations mentioned in the budget speech:

Over the next three years, government will spend:

• R490bn (R457bn last year) on social grants.

• R106bn (R93.1bn) on transfers to universities, while the National Student Financial Aid Scheme will spend R54.3bn (R41.2bn).

• R751.9bn (R707.4bn) on basic education, including R48.3bn for subsidies to schools, R42.9bn for infrastructure, and R12.7bn (R14.9bn) for learner and teacher support materials.

• R114bn (R108.3bn) for subsidised public housing.

• R94.4bn (R102bn) on water resources and bulk infrastructure.

• R189bn (R171.3bn) on transfers of the local government equitable share to provide basic services to poor households.

• R142.6bn to support affordable public transport.

• R606bn on health, with R59.5bn on the HIV/Aids conditional grant.

To hear more from this conversation please, listen below:


This article first appeared on CapeTalk : Gordhan did as well as he could - analyst


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