South Africa

Social grants will in the next financial year increase by between 4 and 4.7%, Finance Minister Tito Mboweni has announced.

Government expenditure on learning will in three years reach R434.2 billion, Finance Minister Tito Mboweni has revealed.

National Treasury will over the next three years allocate an additional R15 million for the establishment of a National Council to combat gender-based violence and femicide.

 “Its budget will increase to R853 million in 2022/23, with a focus on strengthening interventions for women’s economic empowerment; promoting the rights of people with disabilities; and supporting youth development,” said Treasury in the 2020 Budget Review on Wednesday.

The National Treasury has unveiled plans aimed at curbing soaring medical malpractice claims and litigation hovering at R100 billion.

Cost pressures on government coffers has seen housing and transport expenditure become the biggest casualties in budget cuts, as the State shifts allocations to new and urgent priorities.

Smokers and drinkers will from Wednesday have to dig deeper into their pockets for cigarettes and alcohol.

Government is ready to establish a state bank, Finance Minister Tito Mboweni said on Wednesday.

Government will over the next three years attempt to reduce the public sector wage bill by R160 billion, Finance Minister Tito Mboweni said on Wednesday.

Tabling a very difficult budget, accompanied by a revenue shortfall amid low growth, Finance Minister Tito Mboweni said government needed to implement reforms and clean house to set the country on a path of recovery.

Government has set aside R16.4 billion to repay guaranteed debt for the struggling airline SAA, the National Treasury said on Wednesday.