The Middelburg Chamber of Commerce & Industry is affiliated with the two biggest SME representative organizations in the country, AHI, and SACCI, to ensure comprehensive representation to our members. With this in mind, we give you the AHI’s perspective of the National Budget tabled by Finance Minister Pravin Gordhan.
“It was a generally cautious budget in light recent political pressure on the Treasury, weak economic growth and escalating national debt,” said AHI president Bernard Swanepoel. “We are however concerned that not enough emphasis was placed on encouraging stronger growth to enable the transformation stressed during the budget speech.”
Mr. Swanepoel said the increased personal income tax burden, while probably unavoidable, would reduce disposable income and place additional pressure on the country’s small business sector. An increase in Withholding Tax on Dividends and in Capital Gains Tax would also have an adverse effect on retirement and investment planning. “We look forward to seeing how the R3,9-billion for SME’s will be allocated. The promise of expanded broadband to the country and the speedier communications that imply is also to be welcomed.”
“Our advice to our members and to SME’s, in general, is to recommit themselves to growth. Our sector ought to be the growth engine and job creator of the economy. We will continue our efforts to convince the government that the way to sustained growth is through liberating the private sector from the shackles of red tape and inhibiting legislation.”
Members should be on the look out for AHI invitations as well as SACCI invitations. More information is available with Mmabatho at 013 243 2253.