Finance Minister Pravin Gordhan should take a firm stance on managing the budget deficit in his 2014 Budget speech, the SA Chamber of Commerce and Industry (Sacci) said on Friday.
“Sacci would like to a see a balance between spending on social priorities and on productive assets that support sustainable economic growth,” chief executive Neren Rau said. “Sacci extends its support to the minister in building on the theme of fiscal discipline that has characterised recent national Budgets.”
He said the minister should build on calls to cut luxury spending by senior officials and rein in the growth of the public sector wage bill. He should also give details on how the chief procurement officer was fighting corruption.
The chamber hoped he would reinforce the theme of mining sector stability, which President Jacob Zuma mentioned in his State of the Nation address last week.
The Budget speech should provide an update on ways to reduce the tax administration burden on small to medium enterprises and address concerns about the proposed carbon tax in its current form.
Rau said no tax increases would be expected in the context of the pressures being faced by businesses and households.
Gordhan will deliver his annual Budget speech in Parliament on Wednesday. – Sapa