- South African Minister of Finance, Pravin Gordhan, has announced a tax relief of R6.5 billion to boost recovery after the country went through an economic crisis last year.
Mr Gordhan has however said the tax relief does not mean that South Africa will not need to raise its taxes in the near future, saying the country had to intensify its revenue collection to be able to meet its public spending needs.
Presenting the R907 billion budget proposal to parliament today, he also warned against tax evasion, calling on all South Africans to work together towards economic recovery and improved service delivery.
He highlighted that the 2010/11 budget was drawn against the backdrop of the need to create more jobs for the citizens, fight poverty and fast-track economic growth.
He however also warned that in order for the results to be realisable, both government and the private sector stakeholders needed to work together to fight corruption and ensure speedy delivery.
For instance, he mentioned that for all those getting government tenders, their earnings will be compared to their tax returns.
While seeking to create more jobs, the 2010/11 South African budget will also be targeted to investing in human development in areas such as education and health.
The budget speech was the first for Mr Gordhan since assuming office following the change of government in 2009 when President Jacob Zuma ascended to power.
Confessing to be more of a developmental economist, Mr Gordhan has also warned that government or its ruling party allies should avoid economic situation that may lead to disaster.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
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