Wednesday, February 23, 2011

Finance minister delivers the budget speech

By Lelethu Mquqo
23 February 2011

Finance Minister Pravin Gordhan says the country has embarked on the long walk to economic freedom.

Delivering the second budget of the Zuma administration in Parliament this afternoon, Gordhan warned that it would not be an easy journey, but said it would be worthwhile.

The Finance Minister says the budget provides for all sectors of society.

Gordhan announced that government would consider and consult on whether a payroll tax - payable by employers, an increase in the VAT rate and a surcharge on individual’s taxable income are suitable options to fund the National Health Insurance scheme.

An announcement on the funding instruments for the NHI will be made in next year’s budget.


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