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More spending, lower deficit: Gordhan silences sceptics
Budget deficit projected at 4,8%, below forecast of 5,5%, with tax breaks of R9,5bn and a new Treasury push to restrain public sector wages
PDF: Pravin Gordhan’s 2012-13 budget speech
VIDEO: Peter Bruce: is this the budget SA needs?
VIDEO: Peter Bruce on budget: infrastructure and tolling
VIDEO: Peter Bruce on withholding tax on dividends
VIDEO: Sasha Naryshkine, director at fund manager Vestact, on 2012-13 budget
TIM COHEN: Pull feasibility studies out of the budget hat
A revealing part of the pre-budget press conference was an interchange between Finance Minister Pravin Gordhan and his deputy
Budget has introduced a wealth tax — analysts
Eugene du Plessis, tax director at accounting firm PKF, says the budget has effectively introduced a wealth tax on individuals through the increased level of taxation on the real drivers of the economy
Budget makes investing more challenging, analysts say
Investment analysts say higher taxes will affect investors negatively in the short term but the focus on small businesses may be bring in good returns
CAPITAL GAINS TAX: Changes aim to reduce ‘arbitrage’
COMPANY TAX: Dividend tax rate delivers a surprise
OVERVIEW: Infrastructure takes centre stage
Finance Minister Pravin Gordhan switches emphasis from social service spending towards growing economy
Analysts positive about infrastructure spend
VIDEO: Peter Bruce: is this the budget SA needs?
VIDEO: Summit TV debate on financial implications of the budget
BUDGET: Accent on fiscal discipline a surprise
Finance Minister Pravin Gordhan sends a strong signal that the government is committed to fiscal discipline
EMPLOYMENT: Public works jobs drive gets R4,8bn
Hopes for 850000 jobs in three years, 80% in the private sector
EMPLOYMENT: New jobs and old challenges
South Africa’s economy expected to add 850000 jobs over the next three years as growth accelerates
ANC seems keener on business helping out on projects
Hint in budget that ANC is warming to the idea of business not only financing, but also running, some infrastructure projects
Infrastructure takes centre stage
CAROL PATON: Money for infrastructure is easier than reducing inequality
PUBLIC SECTOR: Pledge to moderate pay increases
Government pledges to curb pay increases for its employees in a bid to manage its debt levels
COMPANY TAX: Dividend tax rate delivers a surprise
Companies will pay R7,45bn less tax as a result of the abolition of the secondary tax on companies
CAROL PATON: Money for infrastructure is easier than reducing inequality
More needs to be done if inequality and poverty are to be lessened
TRANSPORT: Uproar at R6bn to lighten toll load
Allocation of R5,85bn from the Treasury to the South African National Roads Agency met with a threat of legal action by the Democratic Alliance
PERSONAL TAX: Higher tax revenues give room for relief
Finance Minister Pravin Gordhan had scope to give personal income tax relief of R9,5bn
VIDEO: Sasha Naryshkine, director at Vestact, on tax in the budget
COMPLIANCE: Minister promises closer focus on truants
Recent voluntary disclosure programme for taxpayers attracted almost 18000 applications
CAPITAL GAINS TAX: Changes aim to reduce ‘arbitrage’
Finance minister introduces changes to the capital gains tax regime to reduce the scope for ‘tax arbitrage’
INFRASTRUCTURE UPGRADE: Less politics, more consensus
The government is becoming more actively involved in the economy, writes Carol Paton
PENSIONS: Capping blow for retirement funding
Experts warn some budget proposals on retirement savings could even be seen as disincentives to save
EDITORIAL: Budget adds more flesh to ANC policies
The 2012-3 budget gives a reasonably clear glimpse of the economy and society that is the ultimate goal of the African National Congress’s broad transformation agenda
TIM COHEN: A global wave SA should be happy to have missed
STEVEN FRIEDMAN: State pays lip service to active citizens
EDITORIAL: Taxing to change corporate culture
Not enough new other measures are being discussed or implemented to encourage a new corporate context in SA
TIM COHEN: A global wave SA should be happy to have missed
One thing that has remained the same in South Africa is a deep suspicion, verging on paranoia, about the level of government debt
ANTHONY BUTLER: Changing global order presents new challenges
Finance Minister Pravin Gordhan implied that South Africans will have to respect the virtue of prudence and the necessity for long-range planning if SA is to stay afloat in a turbulent world
PUBLIC HEALTH: Tax increase likely to fill NHI funding gap
Rise in taxes from fiscal 2014-15 — most likely as a payroll tax — can be expected
VIDEO: Jonathan Broomberg, CEO of Discovery Health, joins panel to discuss NHI and 2012 budget
VIDEO: Sasha Naryshkine, director of Vestact, on tax in the budget
COMPETITIVENESS: Manufacturers and economic wellbeing
Manufacturers are worried about the overall health of South Africa’s economy
ITUMELENG MAHABANE: Pragmatism starting to shape economic policy
Pragmatism grounded in local reality is beginning to shape our economic policy approach
HOW THEY SAW IT: Political parties respond variously
Mixed reaction to Wednesday’s budget, but political parties generally positive
VIDEO: Positive signs from the budget
DIVIDEND TAX: How new tax could backfire
Business voices concern that local investors could be driven overseas
UNIONS’ RESPONSE: SA’s middle class ‘the biggest losers’
Unions differ on the merits of parts of Wednesday’s budget speech
TRANSPORT: Mining body hails infrastructure plan
Government commits R262bn to improve transport and logistics infrastructure over the next three years
FINANCIAL SERVICES: A collective sigh of despair
Finance Minister Pravin Gordhan urges banks to lower costs, do more to promote savings culture
DAWIE ROODT: Tax system’s non-neutrality most damaging
It would be simple to design a much better system, but it would require political will
TAX: More tax on planes, boats as wealthy are targeted
Treasury increases the inclusion rate for individuals, special trusts, companies and other trusts
GOVERNANCE: Chief monitor of state procurement mooted
Several steps will be taken to tighten system in order to reduce corrupt allocation of tenders at all levels
STEVEN FRIEDMAN: State pays lip service to active citizens
While state ignores citizens’ potential, development will be stunted
SIN TAXES: Reasons to drown sorrows
But smokers get breather as cigarettes have negative real rise after tax increase comes in roughly in line with inflation rate
More News
BRONWYN NORTJE: Concern about sustainable social spending unfounded
SOCIAL DEVELOPMENT: Spending on grants to rise
HEALTH: Thirty nursing colleges, five hospitals to be upgraded
ON THE ROAD: Levies, tensions add to fuel price hike
DEFENCE: Cash troubles of forces far from over
State to invest in education as key to growth
AGRICULTURE: Support services get more aid
BROADCASTING: Sentech allocated R141m as digital TV deadline looms
AUBREY MATSHIQI: The people’s budget
PROVINCES: Intervention ‘helped avert cash crises’
HOUSING: Informal settlements set for upgrades
PROPERTY: Developers welcome incentives
PUBLIC ENTERPRISES Denel cash injection could be last bid to save unit
SCIENCE AND TECHNOLOGY: Good news for Square Kilometre Array project
CLIMATE CHANGE: Carbon tax on its way … but not yet
TIM COHEN: Europe shows why SA must guard its fiscal space
MARIAM ISA: SA not doing badly in global context
GAVIN KEETON: The principles that underpin growth strategy
Highlights
Tax breaks and infrastructure spend in Gordhan’s budget
Broad welcome for Gordhan’s first-ever R1-trillion budget
Corruption puts strain on South Africa’s budget
PERSONAL TAX: Income-tax relief for most South Africans
TRANSPORT: Gauteng highway tolling to start on April 30
HEALTH: Discussion paper on NHI due by end of April
PUBLIC ENTERPRISES: R700m for Denel, R350m for Alexkor
INFRASTRUCTURE: Spend it or lose it, warns Gordhan
ENVIRONMENT: South Africa to introduce carbon tax
SMALL BUSINESS: Less tax and red tape for small enterprises
SOCIAL GRANTS: Spending soars to R111bn
Opinion & Analysis
Columns
Editorials
EDITORIAL: Debate on party funding is alive
FINANCIAL TIMES: Hollande’s balancing act
Letters
LETTER: If the cap fits, wear it
LETTER: Arms deal lesson eludes Sisulu
LETTER; Distasteful racist art
LETTER: Support not ethnic
LETTER: A really fowl concept
LETTER: Local content criteria
Blogs
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National
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World
Zanu elder backtracks on ‘Mugabe tired’
Old parties look vulnerable in earthquake-hit Italy
Nato leaders set to tackle Afghanistan withdrawal
Companies
Vodacom's full-year earnings up 8%
Demand for unsecured lending boosts Abil earnings
Beige accepts Lion Match offer
Evraz Highveld Steel down 27%
Markets
Nikkei steadies, propped up by G-8 reassurances
JSE tracks Europe softer at open
Gold rises 1%, eyes weekly gain as euro recovers
Economy & Business
SA needs UK-style high pay panel — Godsell
Consumer watchdog queries fee notices at bank ATMs
SA should look to south for trade, says Davies
Sport
Khoza’s African goal delights PSL boss
Sharapova beats Li in lengthy rain-hit Rome final
Royal Challengers fall spectacularly to Deccan Chargers
Motoring & Tech
INTERNATIONAL LAUNCH: Thing of power and beauty
FUTURE MODELS: Diminutive road warrior heads out
INTERNATIONAL MOTORSPORT: Superbike history
LONG-TERM FLEET: Hard to turn the engine off
Business Life
TALKING HEADS: Targeting the corrupt ‘untouchables’
SIMON KUPER: Aid gets smarter, with fewer shocks
LUCY KELLAWAY: Beware consultants loose in the wild
TRAVEL: Naval gazing at Britain’s most unusual luxury hotel
Technology News
Facebook sued over privacy ‘invasions’
King on integrated reporting and sustainability
Currencies
Commodities
JSE Today
Editor's Picks
EDITORIAL: Taking the lead on executive pay
TIM COHEN: Surveys help to explain trauma in the ANC
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