Naamsa: Gordhan's budget balanced

Johannesburg - Minister Pravin Gordhan tabled a balanced and innovative set of budget proposals intended to support growth and employment, the National Association of Automobile Manufacturers of SA (Naamsa) said on Wednesday.

"Encouragingly, the budget proposals contained no major tax shocks and in fact provided generous personal income tax relief to the extent of R7.3bn," said Naamsa president Johan Van Zyl in a statement.

He welcomed Gordhan's commitment to fiscal discipline, saying the budget confirmed the importance of continued infrastructure development.

Van Zyl was also pleased about the planned review of the tax policy framework.

Naamsa was pleased by government's undertaking to introduce support mechanisms for bio-fuel production and the upgrading of oil refineries to produce environmentally friendly and cleaner fuels.

"The availability of clean fuels, consistent with international specifications, is imperative to enable vehicle manufacturers, importers and distributors in South Africa to offer consumers the benefits of high technology, highly fuel efficient motor vehicles," said Van Zyl.