Related Articles
Top Stories
Feb 22 2012 22:25
Political parties and others have broadly welcomed Finance Minister Pravin Gordhan's proposed 2012/13 Budget.
Feb 22 2012 21:06
Finance Minister Pravin Gordhan has called for sweeping changes to be made in the way provinces are run.
Feb 22 2012 16:12
The state will start provident funds for domestic and farm workers by next year and look into medical schemes for the security sector.
Cape Town - South Africa's rising national government debt has even the finance minister flummoxed, it emerged on Wednesday.
Delivering his Budget speech, Pravin Gordhan told MPs that the debt was set to rise from R526bn at the end of 2008/09 to over R1.3 trillion in 2013/14.
"I don't know how many noughts those are," he confessed, holding his hands wide apart to indicate it was probably quite a lot.
But he did know what an incentive was, in the context of plans to boost automotive, clothing, and film and television production.
"The word incentive means we're giving money away," he explained.