Budget 2016 - Discussion thread

[FoXtroT]

Anyone know how big an increase the proposed allocations to higher education are compared to previous years.

 

[Rkootknir]

Meh!

At least it almost allows for inflation. Increase of around 6% vs inflation of 6.2%

 

[bro-da]

Sugar tax? To reduce sugar intake?

quite common in other countries. solid move

 

[Former member 61586]

quite common in other countries. solid move

Which countries?

 

[Necropolis]

Which countries?

Other ones, can you not read?

 

[DrJohnZoidberg]

Which countries?

This is relevant: https://en.wikipedia.org/wiki/Soda_tax

 

[Viper25]

Can someone give him a glass of water?

 

[yebocan]

and right before the Budget Speech, the Presidency releases:

President Jacob Zuma announces salary increase for public servants, Kings and Queens

http://mybroadband.co.za/news/gover...ase-for-public-servants-kings-and-queens.html

 

[NarrowBandFtw]

Skimmed through the whole speech and it is pretty "meh" all the way, doesn't inspire me with any confidence sadly ...

Scariest bit being "Spending on defence, public order and safety services will rise from R172 billion this
year to R204 billion in 2018/19" ... wtf do they need an extra 32 billion for?!? are they budgeting the cost of the coming revolution?

 

[Ockie]

Government has proposed merging South African Airways with SA Express and partnering the new entity with a minority equity partner.

That aint gonna do jack sh*t urg.

 

[requiem]

President Jacob Zuma has announced that political office bearers will receive a salary increase....

"We will cut government expenditure"....

What a ****ing joke

 

[requiem]

Skimmed through the whole speech and it is pretty "meh" all the way, doesn't inspire me with any confidence sadly ...

Scariest bit being "Spending on defence, public order and safety services will rise from R172 billion this
year to R204 billion in 2018/19" ... wtf do they need an extra 32 billion for?!? are they budgeting the cost of the coming revolution?

There are many many sharks in the ocean... We need more submariners and submarines to keep our swimmers safe

 

[Garson007]

Skimmed through the whole speech and it is pretty "meh" all the way, doesn't inspire me with any confidence sadly ...

Scariest bit being "Spending on defence, public order and safety services will rise from R172 billion this
year to R204 billion in 2018/19" ... wtf do they need an extra 32 billion for?!? are they budgeting the cost of the coming revolution?

You do realise that's over five years, right? I'm actually of the opinion that national defence should get a big adjustment upwards; the world is becoming a scary place.

 

[R13...]

That aint gonna do jack sh*t urg.

It is unlikely they will be able to attract a minority equity partner either with the political board they have in place. I know he says they want to strengthen but past experience has shown a very lack of political will to carry such promises through. All SOEs could benefit from strengthened boards but political expediency and an entrenched culture of patronage still rule the roost.

 

[OrbitalDawn]

Adam Phillips of Umkhulu Consulting: The Finance Minister has only been speaking for 20 minutes, but the ZAR has fallen 15 cents. There is a lot out on the wire, but I would say that it appears to be a bit of a 'wishy washy' budget and that is why they have put the boot in.

Maybe he will say something that will make the ZAR turn around, but I doubt it. There may be cuts in government spending, but he still wants to borrow a great deal from international debt markets. If we get a rating cut we will all feel more pain. There has been nothing that shows he has been 'ballsy'.

lol.

 

[*SynergyX*]

can anyone imagine van rooyen delivering this speech...

ive never heard him speak personally.

 

[OrbitalDawn]

Increase transfer duty rates on property sales above R10m from 11% - 13%. Effective for property acquired on or after 01/03/2016

Proposal to increase inclusion rate for capital gains for individuals from 33.3% to 40%, and for #companies from 66.6% to 80%

Effective Capital Gains Tax rate for trusts will increase from 27.3% to 32.8%

.

 

[BCO]

Cooldrink tax!

 

[NarrowBandFtw]

You do realise that's over five years, right? I'm actually of the opinion that national defence should get a big adjustment upwards; the world is becoming a scary place.

That is an almost 20% increase in the total defense budget ... and I'd bet the bulk goes into public order i.e. policing your own population, which is unruly because you made it so in the first place ...

 

[Vrotappel]

Effective 1 April 2016, appointments for non-critical vacant posts will be blocked on government’s payroll system, pending the submission of revised human resource plans. In many cases, these departmental plans will reduce personnel headcounts in administrative and managerial posts, eliminate unnecessary positions and establish a sustainable level of authorised, funded posts. Positions for teachers, nurses, doctors, police officers and other critical posts will be excluded from the lock, which is aimed at administrative and managerial personnel.
 Building on the President’s State of the Nation Address, national departments’ budgets for non-essential goods and services have been cut by R5 billion over the medium term. Stronger cost-containment instructions will be issued shortly.
These measures are complemented by the modernisation of government tender systems led by the Office of the Chief Procurement Officer. This process is intended to reduce both costs and opportunities for corruption. From 1 April 2016, all companies that wish to do business with government must be registered on the central supplier database. It will be compulsory to procure routine goods and services through the centrally negotiated contracts in place.

Hard choices...