Budget Speech, 2013Conclusion |
Mister Speaker, my sincere appreciation goes to President Zuma and Deputy President Motlanthe for their guidance and support.
My appreciation also goes to Colleagues of the Ministers’ Committee on the Budget, for their continuous and vigorous engagement with the challenges that face us, and their bold and steadfast advice to Cabinet.
I wish to thank my Cabinet colleagues who collectively own this budget. Their support and understanding for tough measures is highly appreciated.
A heartfelt thank you to Deputy Minister Nene, whose vigilant participation and sound advice is invaluable to me.
My thanks to the MECs of Finance, who play a critical role as guardians of 43 per cent of our spending.
Our appreciation also goes to:
| • | Governor Gill Marcus and the Deputy Governors of the South African Reserve Bank, for their constructive management of monetary policy, |
| • | Commissioner Oupa Magashula and the staff of the South African Revenue Service for their diligent contribution to fiscal stability – I hope better times return for them soon! |
| • | The Financial and Fiscal Commission and its acting Chairperson, for their contributions, |
| • | Mr Jabu Moleketi, Chair of the DBSA and its new CEO, Mr Patrick Dlamini, who are positioning the DBSA to make a greater contribution to infrastructure development, |
| • | The Chair, Mr Ngubane, and CEO of the Land Bank, Mr Phakamani Hadebe, for his illustrious service to the bank, |
| • | The leadership of the Public Investment Corporation, the Financial Services Board, the Financial Intelligence Centre and the Government Pension Administration Agency, |
| • | The managing director of NEDLAC, Mr Alistair Smith, and the constituency representatives for their engagements with the Treasury, |
| • | The Honourable Thaba Mufamadi and Charel de Beer, who chair the Standing and Select Committees on Finance respectively, and the chairpersons of the the Appropriations Committees, the Honourable Elliot Sogoni and Tebogo Chaane, who ensure that Parliament remains a vibrant forum for engagement, accountability and public participation, |
| • | Director-General Lungisa Fuzile (and Mrs Fuzile) for his professionalism, frankness and profound commitment to building credible institutions and advancing government’s objectives, |
| • | The management team and staff of the National Treasury, whose extraordinary contributions and caring for a better South Africa enhance our country’s standing in international fora, |
| • | My Chief of Staff, Dondo Mogajane, and the Ministry staff for their enthusiastic support, |
| • | My very supportive family who make my contributions possible. |
And finally, I must express sincere gratitude to South Africans from all parts of the country who offer words of encouragement and assurance – as well as critiques and concerns! This is what keeps us accountable and drives us to constantly improve.
The key pillars of this Budget are:
There are signs that global growth is improving, however uncertainty remains.
South Africa’s economy must grow faster and more inclusively.
Future growth is also dependent on private-sector investment in the economy.
The National Development Plan will be implemented by government and budgets will be aligned to it.
Government continues to invest significantly in infrastructure
We are taking additional steps to create opportunities for young people.
Reduced revenue results in less spending in the years ahead unless the economy grows.
There are new opportunities to be seized in Africa and other emerging markets.
We have committed to reviewing and assessing our tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability.
A new local government formula benefits rural municipalities.
Honourable Speaker, I hereby table before the House this afternoon:
The Budget Speech
The Budget Review 2013
The Division of Revenue Bill tabled in terms of section 10(1) of the Intergovernmental Fiscal Relations Act, 1997 (Act No 97 of 1997);
The Appropriation Bill, and
The Estimates of National Expenditure
Honourable Speaker, I table this budget in the hope that as a nation we will be able to rise above our sectional interest, and, as you said Mr President, prevail with greater maturity, pull together and take this country forward.
We have said that South Africa is changing. Let us work together to ensure that really, tomorrow, will be better than today.
In conclusion, let me remind this House of what former President Nelson Mandela said: "What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead."
I thank you
Budget Speech
Issued by: National Treasury
27 Feb 2013