The upcoming Budget Speech should be business-friendly and reduce hindrances to job creation and economic growth, the South African Chamber of Commerce and Industry (Sacci) said.
“Sacci hopes that the Budget Statement will reflect a business-friendly fiscal policy that reduces the many hindrances to achieving economic growth and job creation by the private sector in South Africa,” Sacci CEO Neren Rau said on Thursday.
Finance Minister Pravin Gordhan will deliver the Budget on Wednesday, 22 February. The budget follows on the State of the Nation Address (SONA) delivered by President Jacob Zuma earlier this month.
In the SONA, the President announced that South Africa would spend billions of rands over the coming years on new infrastructure, with the government to focus on building rail, road, and economic links in five regions in the country.
Sacci said it will be seeking clarity on the model of the various infrastructure investment programmes as well as progress already made on provincial interventions by National Treasury.
Sacci also sought clarity on the progress of finding a suitable funding model for National Health Insurance (NHI).The broad objective of the NHI is to put in place the necessary funding and health service delivery mechanisms, which will enable the creation of an efficient, equitable and sustainable health system.
The commerce chamber also sought clarity on the progress on the integration of Development Finance Institutions (DFIs) and general business support, promotion initiatives and plans to ease the access to finance for SMEs. – BuaNews