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In the Budget Speech on 22 February, SACCI will be seeking clarity on the following issues:
• The planned financing model of the various infrastructure investment programs and the specific borrowing strategy to avoid crowding out of the private sector
• The progress already made on provincial interventions by the National Treasury and the expected timelines for continued assistance to these provincial governments towards restoration of a conducive business environment and fiscal sustainability.
• The strategy to achieve a tax neutral outcome for the South African business community given the possible additional taxes such as the carbon tax and local business tax
• The progress on finding a suitable funding model for the National Health Insurance (NHI) scheme
• Specific interventions to taper the public wage bill to sustainable levels and progress on linking compensation to the government-wide performance management system
• Tangible and immediate measures to cut regulatory bottlenecks and red tape for business generally and SMEs in particular in order to reduce the cost of doing business in South Africa
• Progress on the integration of Development Finance Institutions (DFI’s) and general business support, promotion initiatives and plans to ease the access to finance for SMEs
• Reassurance to foreign and domestic investors on economic stability specifically relating to concerns on Nationalisation and
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.