BUSINESS NEWS

Gauteng to spend wisely says Creecy!

Barbara Creecy
Hard stance. MEC for Finance in Gauteng Barbara Creecy has implemented cost cutting measures.

This follows the province’s MEC for Finance Barbra Creecy’s budget speech this morning, when she said over the next three years‚ the equitable share of the province would be cut by R2.9-billion as a contribution to Gordhan R25-billion budget cut.

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

“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.

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

Gordhan announced cost-cutting measures that would enable national government to reduce operational costs in the public sector.

With Gauteng having followed suit, it remains to be seen whether other provinces will do the same.

Related posts

Milano FC off to Russia for World Cup spectacle

Sello NCHWE

Heatwave is about to come down, hard in Rusty Dusty!

Sello NCHWE

AKA shows off his limited Vodka Watermelon edition

Sydney MORWENG

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.