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Budget Speech 2015




Honourable Speaker, this has been a challenging budget to prepare, under difficult economic circumstances. The resources at our disposal are limited. Our economic growth initiatives have to be intensified. Mindful of these circumstances, Stefan Schoeman of Johannesburg wrote, in response to the budget tips campaign, only just to wish me all the best for what he described as a daunting task. Thank you, Stefan.


Preparing a budget under difficult circumstances is a reminder that our public services are many and varied, and that we rely on the efforts and good judgement of many thousands of public servants, teachers, health practitioners and law enforcement officers, every day. And our economy comprises a great diversity of enterprises, factories, mines, service centres and shop-floors, welfare organisations, trade unions and industry associations. Our collective future depends on the energy and enterprise of all of us.


The 2015 Budget takes forward our National Development Plan and medium term strategic framework, recognising that the gains of our democracy have to be shared more equally and our economy has to be given greater impetus.


Allow me to thank you, Mister President, for your guidance and support. My appreciation goes to Mister Deputy President for his wise counsel. I would also like to thank my Cabinet colleagues for their cooperation and support.


Members of the Ministers’ Committee on the Budget, including Deputy Minister Jonas, have been especially generous in their time and wise advice.


I also wish to thank Provincial Premiers and Finance MECs, and Municipal Mayors, who share our fiscal and financial responsibilities.


I know that Members of the House will join me in expressing appreciation to:


1) Director-General Lungisa Fuzile and officials of the National Treasury;


2) Governor Kganyago, the Deputy Governors and staff of the South African Reserve Bank;


3) Commissioner Moyane and staff of the South African Revenue Service;


4) Commissioners and staff of the Financial and Fiscal Commission;


5) The Chairpersons, Boards, Chief Executive Officers and staff of the DBSA, the Land Bank, the Public Investment Commission, the Financial Services Board, the Financial Intelligence Centre and the Government Pension Administration Agency;


6) The staff and constituency representatives of NEDLAC, and particularly its Public Finance Chamber, and


7) Judge Dennis Davis and members of the Tax Committee.


Allow me also to thank my family for their invaluable support.


Honourable Speaker, I hereby table before the House:


1) The Budget Speech,


2) The 2015 Budget Review, including
Fiscal Framework,
Revenue Proposals, including customs and excise duties,
estimates of national revenue and replies to the Budgetary Review and Recommendation Reports


3) The Division of Revenue Bill,


4) The Appropriation Bill, and


5) The Estimates of National Expenditure.


Honourable Speaker, and Members of the House – these are our budget proposals, and I look forward to further engagement through our committees and the Parliamentary budget process. I am especially grateful to the chairs of the finance and appropriation committees, the Honourable Mr Carrim and Mr de Beer, Mr Mashatile and Mr Mohai, who have responsibility for steering consideration of the Division of Revenue Bill and the Appropriation Bill, and the revenue bills which will be tabled later in the year.


Preparation of the budget is the outcome of inputs and efforts of countless people, in Treasury, in government departments, in provinces and municipalities and in our public entities.


Implementation of the budget, Honourable Speaker, is the collective outcome of the activities of all South Africans: workers and businesses who contribute to economic activity, investors who make growth possible, savers and taxpayers, officials and service providers, protectors, advisors, those who work on our farms, those who care for the young and elderly.


It is my privilege to table these proposals for the consideration of all South Africans, and to reaffirm our commitment to work together with all South Africans in pursuing a better future.