Medium term budget speech live updates.
The SARS Commissioner, Edward Kieswetter and the finance minister, Enoch Godongwana during their press conference ahead of his first medium term budget speech at parliament, Cape Town .A commodities boom has seen government collecting R120bn more in tax revenue than previously projected, helping to push economic growth to 5.1% in 2021, up from a 6.4% contraction in 2020.
In a review of the medium-term budget policy statement , the National Treasury is warning that while the global demand for commodities has enabled mining to contribute massively to the revenue kitty, the additional money “flatters to deceive” because revenue collection still remains under pressure.
A few hours before delivering his speech in parliament, Godongwana told journalists at a press conference that government was losing patience with SOEs that kept knocking at its door with cap in hand, while their performance has remained lacklustre over several years.The National Treasury has backed efforts to deregulate the energy sector by allowing private players to enter the market and sell electricity directly to consumers.
“In terms of the basic income grant or R350 or anything, our view is that it comes to an end, it was extended until the end of March. Between now and end of March, government has got to decide what they do and not Treasury.
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