Medium-Term Budget Policy Statement

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Cecil Kilpin | October 2018 Newsletter

By |2018-10-19T09:58:32+02:00Oct 12th, 2018|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Medium Term Budget Policy Statement (MTBPS) Nhlanhla Nene is the first victim of the “State Capture Enquiry”. Just twoweeks before presenting a critical MTBPS, he resigned after a massive public backlash regarding his initial non-disclosure regarding his meetings with the infamous Gupta family. His replacement, Tito Mboweni, has been well received by the markets and public in general. It would appear that his appointment will be positive for South Africa’s economic recovery , and we look forward to his budget speech presentation on the 24th October . While it appears a short time for him to pre-pare, Treasury has a contingent of experts who have prepared the necessary budgets in line with government policy. Minister Mboweni should slot in with ease! Fast facts on Tito [...]

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Cecil Kilpin | November 2016 Newsletter

By |2016-12-20T13:00:26+02:00Nov 1st, 2016|Newsletter|

Medium-Term Budget Policy Statement The Medium-Term Budget Policy Statement (MTBPS) is a government policy document that outlines the government’s fiscal policy objectives and spending priorities over a three-year period.The MTBPS also sets out the economic context in which the forthcoming budget (February 2017) will be presented.With the slow-down in the South African economy, tax revenues have fallen short of expectations. This means that government spending will need to be cut and taxes will need to be raised. The anticipated budget shortfalls are R36 billion and R52 billion in the next two years. Following a series of expenditure cuts, the MTBPS proposes a further R26 billion in reductions to the public expenditure ceiling over the next two years. New proposed tax measures amount to R13 billion [...]

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