Speech leaves business in province mostly upbeat

Business chambers in the province reacted cautiously but positively to the budget speech.

O R Tambo chamber of commerce chair Vuyisile Ntlabati said even though the government had wasted money over the years through corruption, the budget gave a sense of hope that the country would recover. However it would take time.

“We also welcome the Treasury’s commitment to education, seeing that over R3bn will be going towards learning (education). We just need these funds to be used to improve infrastructure in schools and to hire dedicated staff.”

Border-Kei Chamber of Business chief executive officer Les Holbrook welcomed efforts to free up the regulatory environment for SMMEs.

Scrapping bureaucratic interference, and the high cost of doing business were positives, but “we hope the minister drives through the promises”.

Nafcoc president Sabelo Macingwane welcomed the budget, saying the increased investment of R481.6m incubation programmes at Seda will improve the sustainability of SMMEs which would, in turn, create jobs.

Macingwane said the recapitalisation of Sars and removal of policy uncertainty were steps in the right direction.

“The removal of policy uncertainty will return investor confidence into the investor economy which can impact positively and help the growth process, and in the process create a bigger cake for entrepreneurs to take advantage of.

“On the downside, the increase in fuel levy is regrettable as a lot of our members in transport and other sectors suffer the consequences of rising fuel costs. Fuel levies and the socalled sin taxes have become the blunt instrument used by all financial ministers to plug the gaps in the country’s revenue.”

Komani community leader Siyabulela Gaju disputed claims that local government was working closely with people. “The country is facing a huge problem with parastatals, which are suppose to be creating jobs and making money for the government, but are draining the government.” –