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26 May 2012
   
 
 
Article by: Sapa
 
 
 

Minister in the Presidency Collins Chabane on Friday rejected notions that policy initiatives announced in President Jacob Zuma's State of the Nation address would have a major impact on the Budget tabled next week.

Chabane said that Finance Minister Pravin Gordhan's first budget would be informed by the three-year spending plans set out in last year's budget as part of the Medium Term Expenditure framework.

"Because of that you cannot implement a major shift this financial year."

He said that the State would plough more resources into the programmes mentioned by Zuma "as we go into the next budget cycle".

Economists have forecast that Gordhan might raise taxes to pay for policy initiatives like extending the child support grant to an additional two-million children between the ages of 15 and 18 over the next three years.

 

Edited by: Sapa
 
 
 
 
  Photos
 
 
 
President Jacob Zuma at the opening of Parliament
 
President Jacob Zuma at the opening of Parliament
 
 
 
 
 
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