Pravin Gordhan Delivers Mini-Budget Speech Here
Pravin Gordhan will deliver the Mini-Budget Speech today at 2pm in Parliament. Usually a quiet affair, today will be a different scenario.
Published: Wednesday, October 26th 2016
Finance Minister Pravin Gordhan will deliver his Medium Term Budget Policy Statement (MTBPS) or “mini-budget” to Parliament today at 2pm.
The mini-budget is usually a lot more low-key compared to the annual budget speech. With fraud charges looming over Gordhan’s head, however, there will likely be great interest in what he delivers today.
Read: Pravin Gordhan Summoned For Fraud
What Is The Significance of a “Mini-Budget” Speech?
A mini-budget speech is effectively a status update of a certain agreed-upon budget. The speech reviews budget goals and ways to raise extra revenue or cut current spending habits.
Read: 81 SA CEOS Are Backing Pravin Gordhan
A family may decide on
a R1000 grocery budget per month, initially, but will have to reassess if food prices rise. This also means that extra income needs to be found to cover costs, or certain consumables will need to be scrapped.
Likely Topics of Discussion
Econometrix Chief Economist, Azar Jammine believes Pravin Gordhan will discuss the following:
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- Accommodating higher education in light of the #FeesMustFall movement.
- Money set aside for drought relief
- Economic forecast, "a speech that once again helps the country avert a ratings downgrade".
Watch the "Mini-Budget" Speech Live Here: