AP
Picture: AP Photo/Sara D. Davis
“Levers of change” that can put the economy on a more rapid growth path to 2030 include investment in science and technology, says Finance Minister Pravin Gordhan.
Total spending on science and technology is being increased over the three-year Medium Term Expenditure Framework period, from R10.8 billion in 2012/13 to R12.1bn in 2014/15. The figure for 2008/9 was R7.8bn.
Additional funding of R400m has been proposed for the Agricultural Research Council for vaccines research and support for extension services, and R700m for various science council initiatives to support industry and mining development.
Gordhan said the Department of Agriculture, Forestry and Fisheries would get an additional R1.9bn to improve agricultural support services in the next three years.
He confirmed that the Square Kilometre Array (SKA) radio telescope project that South Africa is bidding against Australia to host would qualify for VAT relief.
|
|
Services
Business Directory
We like to make your life easier
Mobile
Browse IOL on your phone at m.iol.co.za.
Newsletters
Subscribe to our newsletters. News delivered to your inbox!
