Guiding consumers since 2009

Who will be in charge of the budget?

By Staff Writer

The election has come and gone, the new state President has come to power. The cabinet has been re-shuffled. Trevor Manuel is no longer minister of Finance, he has been replaced by Pravin Gordhan previously of SARS, who will now take care of our budget. This shows a fair whack of continuity with Gordhan already being intimately familiar with finance and planning. Manuel has moved on to the powerful new National Planning Commission. So what does this all mean for you? In a nutshell not much. You should still:

The fact that we had a peaceful and calm power handover is a great thing but does not detract from the fact that we are still in the middle of the worst economic crisis since the 1930's. The new government is at pains to prove that it is a sensible, serious and responsible player and the new cabinet has been designed to reflect this. There have been multiple indications of stability projected by the Presidency and our economy is looking much better than many others in the world, and we are expected to pull our selves out of the downturn relatively early. However just because the signals are looking right it is not the time to get too excited and start to spend again. Now is a time for saving.

The papers have looked at the new cabinet in depth and all the various ramifications thereof. Justmoney is not worried by the appointments and expects that economic policy will continue along much the same lines as before. As long as there are no major external shocks, and you have been working on your budget and have your finances down tight then there should be no worries and towards the end of the year the economy will start to look up on the wave of the World Cup. By the end of that this Presidential election will be history, the economy will have started to turn and the new cabinet will be settled and sorted already.

 

 

Recent Articles

Featured Turn your debt around in 6 months

For many of us, January is the month to set goals, find renewed motivation, and make changes to areas of our lives where we feel that they’re needed. But let’s be honest, as the year and the motivation dwindles, these goals are often forgotten.

Which bank offers the best home loan?

Applying for a home loan can be a stressful experience – from filling out the paperwork to comparing the interest rates and navigating all the potential red tape. But it needn’t be.

6 smart ways to select the best medical scheme

It’s important to belong to a medical scheme that offers great benefits at affordable prices. However, due to insufficient knowledge, many people find themselves paying higher premiums for a medical scheme which does not even meet their needs.

Calculate your vehicle finance instalments

You’ve dreamed of a set of wheels since you can remember, and now that you’re a responsible adult with a steady income, you’re ready to take on funding to make this dream a reality. But what kind of vehicle finance options are available to you? Justmoney gives you the rundown.

Deals

Wimpy Cheese Griller Brekkie Special

Price: R49.90
When: Until 9 September
Where: Nationwide

Mowana Spa Me Time Indulge Special

Price: R899
When: Until 31 August
Where: Fourways

Premier Hotels Weekend Getaway Special

Price: From R540
When: From 1 September
Where: Nationwide