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Sat Aug 27 08:38:01 CAT 2016

Creecy predicts Gauteng will collect R5 billion in own revenue

Shenaaz Jamal And Penwell Dlamini | 08 March, 2016 10:22
Finance MEC Barbara Creecy said‚ over the next three years‚ the equitable share of the province would be cut by R2.9-billion as a contribution to Finance Minister's Pravin Gordhan R25-billion budget cut. File photo

The fiscal consolidation and cost-cutting measures seen in the National Budget are starting to trickle down to provinces as the Gauteng government is expected to experience a R2.9-billion budget cut.

This was unveiled in the Gauteng 2016/17 provincial budget presented in the legislature on Tuesday.

Finance MEC Barbara Creecy said‚ over the next three years‚ the equitable share of the province would be cut by R2.9-billion as a contribution to Finance Minister's Pravin Gordhan R25-billion budget cut.

Gauteng only gets 5% of its revenue from its own operations and the rest is received from National Treasury.

Most of this provincial revenue comes from motor vehicle licenses‚ gambling taxes‚ patient fees and interest earned on treasury investments.

“We remain confident that we will be collecting R5-billion on own revenue in 2016/17; R5.3-billion in 2017/18 and R5.6-billion in 2018/19‚” said Creecy.

In his speech last month‚ Gordhan announced cost-cutting measures that would enable national government to reduce operational costs in the public sector.

This included‚ among others‚ the curbing of the value of the cars that public officials can buy. – TMG Local Government Team

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