He will present the Budget to a joint sitting of the National Assembly and National Council of Provinces at 2pm. President Jacob Zuma, who delivered the State of the Nation Address earlier this month, is expected to attend.
Cameramen from the biggest broadcasters have set up their stations and makeshift studios where they are expected to hold live broadcasts and interviews to get reactions after the Minister’s speech.
Journalists have been in a lock-up since 6am this morning in Pretoria and Cape Town and they will only be able to transmit their stories to their editors when Minister Nene reads his speech at 2pm.
Journalists will also get an opportunity to ask questions when the Minister avails himself for a press conference just before midday ahead of delivering his speech after lunch.
In his 2014 Medium Term Budget Policy Statement (MTBPS) in October, the Minister said government would be adjusting tax policy and administration as part of a series of measures to narrow the country’s budget deficit to 2.5% over the next three years.
This afternoon he is expected to introduce proposals to generate additional revenue of at least R27 billion over the next two years.
In October, Minister Nene proposed a package of fiscal measures on both the expenditure and revenue side to re-establish the sustainable foundation for the public finance and to build a platform for investment led growth in the future.
Government would further support power utility Eskom to ensure energy supply in the form of several reforms, including a direct allocation of at least R20 billion raised through the sale of non-strategic state assets. – SAnews.gov.za
