Guiding consumers since 2009

New minister new budget policy

By Staff Writer

The new Minister of Finance is Pravin Gordhan, he took over from Trevor Manuel in May 2009. Today the 27th of October 2009 he presents his first budget statement, the Medium Term Budget Policy statement. The results have been embargoed until after 2pm today but the eyes of the country and the world will be on him today. It will be the first real indication of where his incumbency will take us. The key areas that could be affected are:

 

  • The deficit - will it widen?
  • Infrastructure spending
  • Social security funding

 

The deficit was kept in control under the austerity programme of Manuel and any changes could indicate a shift in policy to further spending. The World Cup in 2010 will be a big money spinner and we can possibly relax our spending discipline in light of that, although the World Cup is on a short period its effects will be felt for some time after particularly in terms of the infrastructure spending that has developed around it. It isn't all stadiums though as energy infrastructure is ailing.

Social security becomes a big bug bear of many commentators mainly due to ideological stances. The truth is countries with strong social networks have the ability to do better than countries where people get left by the way side, the question should not be social spending but where is the social spending going and will the programmes have a tangible effect on those who need it most. All of the questions should be addressed in the speech to Parliament today. While the Minister is working on his budget, have you planned your personal budget yet?

Recent Articles

Featured New homeowner? Be aware of these extra expenses

You’ve overcome all the hurdles of buying a home. You’ve managed to pay your deposit and your closing payments, and now you’re a proud title deed holder. However, there are other expenses waiting around the corner. Are you prepared?

Your biggest credit conundrums – answered

Understanding your credit health is one of the most important factors in managing your finances. This is because it gives you insight into your debt, your borrowing ability, and your financial history. While many understand this, there are still many questions on how to do just that.

Avoid debt collectors, choose debt counselling

There are two things you can do when you are struggling to pay your debt. You can either let your creditors hand your debt over to debt collectors – or you can let debt counsellors help you deal with your debt.

Retail notes: easy investment option for new investors

Being a newbie in the world of investing can be challenging because you don’t know where and how to invest. With so many investment options, you could easily be befuddled. Justmoney looks at how retail notes can help you cut your teeth in the world of investing.   

Deals

Translux Student Discount

Price: Depends on destination
When: Daily
Where: Nationwide

Zimbali Senior Citizens Discount

Price: From R1342.00
When: Until 14 December 2019
Where: KwaZulu Natal

Free meal for kids at Mozambik Restaurant

Price: Free
When: Until 15 November 2019
Where: Johannesburg, Durban, Pretoria