How the budget speech affects you

Minister of finance, Mr Pravin Gordhan

Finance minister Pravin Gordhan, delivered his budget speech in parliament yesterday.

The speech was drafted in difficult times amid revenue shortfalls, slow economic growth, increasing government debt and uncertainty about his tenure as political head of the National Treasury.

Also read: Social grants to increase in April

Gordhan did not raise the marginal tax rates for taxpayers in the 18 per cent to 41 per cent tax brackets, but provided very limited tax relief for this grouping. Dividends to 20 per cent from the previous 15 per cent. GDP growth is still expected to average 1.3 per cent in 2017, increasing slightly to 2 per cent over the medium term.

Also read: Mpumalanga finance MEC to improve department accounting systems

Amount and percentage allocated to each department.

Jabulane Khumalo

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