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2011 Budget Speech by Pravin Gordhan

There was nothing new in the Budget Speech presented by the Minister of Finance Mr Pravin Gordhan on the 23rd of February 2011. The majority of the changes should definitely benefit the lower end of the population as mention was again made of the National Health Insurance (“NHI”) system but not enough detail was provided about the implementation thereof. Many analysts were disappointed that Estate Duty was not scrapped but pleased with the changes to the Transfer Duty threshold for the purchases of homes. The budget seems to provide more assistance for retirement funding but places a limit on the saving potential for taxpayers in higher earnings brackets.



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