In October last year, we said that government had no option but to adjust expenditure and increase taxes so as to return our fiscus to a sustainable path. This decision was informed by the difficult economic environment, both locally and globally, as well as the high level of debt government has accumulated since the onset of the global financial crisis in 2008.
Sustainable public finances are fundamental to the continued transformation of our economy because they are the foundation on which to build lasting social and economic progress. They will also make it easier for government to cushion the economy should another economic or financial storm come to our shores.
So, the budget framework we announced in October seeks to restore balance to public finances, boost investment, and ensure that we improve the efficiency and effectiveness of the expenditure of public funds. In line with the National Development Plan (NDP), our medium term objective is to ensure that government spending promotes economic growth and enables increased investment by the private sector.
It is in this context that we would like to hear your ideas on how we can:
a) Change the dynamics of our cities to improve living conditions, modernize transport and communications infrastructure and expand economic activity.
b) Reinforce government support for exporting businesses and improve their competitiveness and by so doing increase the capacity of our economy to create more jobs.
c) Improve our ability to expand the skills base of our economy.
I look forward to your contribution.
You can send your contribution in the following ways:
Facebook: National Treasury South Africa
Fax: 012-406 9055
SOURCE: SOUTH AFRICAN OFFICIAL NEWS