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Green light for Gordhan's adjustment budget

Nov 21 2012 07:27 Sapa

Finance Minister Pravin Gordhan. Picture: AFP)

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Cape Town - The National Assembly approved Finance Minister Pravin Gordhan's Adjustments Appropriation Bill on Tuesday.

It was tabled with the medium-term budget policy statement on October 25.

The adjustments budget provides for an additional R11.523bn in vote allocations for 2012/13.

This includes roll-overs of R1.506bn, unforeseeable and unavoidable spending of R2.273bn, higher than expected personnel remuneration increase costs of R5.480bn, and self-financing spending of R440.1m.

The water affairs department has the largest number of budgetary roll-overs, at R416m, with about a third of this amount allocated to addressing acid mine drainage.

Another environmental issue, listed as an unforeseeable and unavoidable expense, is the R20m removal of the Seli 1 shipwreck from the Bloubergstrand beach in Cape Town.

A total of R450m has to be allocated for refurbishing Mthatha Airport in the Eastern Cape, and R375m for environmental job creation projects in the Expanded Public Works Programme.

Arms manufacturer Denel is allocated R118m for the seventh indemnity claim, under an indemnity agreement with the government, for the A400M aircraft contracts.

Under self-financing, the transport department lists R297m it has collected from vehicle registration transaction fees, which it will use to maintain and upgrade the electronic National Transport Information System.

A contingency reserve of R5.780bn was set aside in the February budget, as well as an unallocated amount of R30m.

Savings of R3.021bn has been declared, a repayment of R500m is to be made into the National Revenue Fund, and a decrease in state debt costs is projected to be R593.6m.

Over and above this, budget spending projections also indicate a possible R3.5bn in underspending.

If this projection is fully realised, the revised total level of spending for 2012/13 will be R967.463bn, representing a decrease of R1.902bn in aggregate from the budget spending estimate of R969.365bn.

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pravin gordhan  |  budget 2012


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