Wednesday, October 27, 2010

Finance Minister released Medium-Term Budget Policy Statement today

By Lelethu Mquqo
27 October 2010

Finance Minister Pravin Gordhan has promised that government will not move in implementing National Health Insurance.

He assured tax payers that the scheme may not necessarily mean higher taxes.

Gordhan was tabling his Medium-Term Budget Policy Statement in Parliament this afternoon.

He admitted that it was possible that some of the commitments required for NHI could be met by a widening tax base.

But he added that South Africa’s improved economic performance has contributed to an increase in tax revenue of more than 30-billion-Rands.

With public servants being granted a 7.5% increase this year, he said high wage settlements may have slowed the job creation.

Gordhan assured South Africans that the country was over the worst of the recession, but pointed out that we live in very uncertain times.

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