Finance Minister Tito Mboweni has said on 20 February that the National Treasury has allocated R567 billion for social grant payments for 2019/20 financial year. Mboweni was delivering his maiden budget speech in the National Assembly for 2019 in parliament.
The minister said this would improve the conditions of life for all South Africans, especially the poor, as the country tackles poverty and inequality. Mboweni announced that there would be an R80 increase in old age grants, from R1 695 in 2018 to R1 780 in 2019.
Other increases are:
- State old age (over 75): Increases from R1 715 to R1 800 (5 per cent)
- War veterans: Increases from R1 715 to R1 800 (5 per cent)
- Disability: Increases from R1 695 to R1 780 (5 per cent)
- Foster care: Increases from R960 to R1 000 (4.2 per cent)
- Care dependency: Increases from R1 695 to R1 780 (5 per cent)
- Child support: Increases from R405 to R425 (4.9 per cent)
R567 billion for welfare . R80 increase on pension, R40 increase on foster care taking it to R1000 and social grants will go up to R430 by October #BudgetSpeech2019 @NE_Tribune
— Nkosazana (@LungileDube) February 20, 2019
Eskom will receive R69 billion over 3 years finance for reconfiguration on condition that a Chief Reorganization Officer is appointed by both min of Fiancé and Public Enterprise #BudgetSpeech2019 @NE_Tribune
— Nkosazana (@LungileDube) February 20, 2019
Eskom will receive R69 billion over 3 years finance for reconfiguration on condition that a Chief Reorganization Officer is appointed by both min of Fiancé and Public Enterprise #BudgetSpeech2019 @NE_Tribune
— Nkosazana (@LungileDube) February 20, 2019
Revenue will be R1. 58 triliion and spending will be higher by R248 billion. SA is borrowing R1. 2 billion a day. #BudgetSpeech2019 @NE_Tribune
— Nkosazana (@LungileDube) February 20, 2019
Mboweni said the challenges at the South African Revenue Service (SARS) are being addressed. He said a new commissioner will be appointed in the coming weeks.
“SARS is strengthening its IT team and its IT systems, and this is crucial for tax collection efforts. Information sharing agreements with allies will help fight cross-border tax evasion schemes,” said Mboweni.
Minister of Science and Technology, Mmamoloko Kubayi-Ngubane shared her views on the budget speech.
WATCH: @dstgovza Minister @mmKubayiNgubane says the #Budget2019 was tabled under difficult conditions. She adds that the #BudgetSpeech2019 also highlighted the importance of responding to the Fourth Industrial Revolution. pic.twitter.com/6xpsDWrfH0
— @SAgovnews (@SAgovnews) February 20, 2019
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WATCH LIVE: Finance Minister Tito Mboweni delivers budget speech
