Pravin Gordhan’s 2017-18 budge

Pravin Gordhan’s 2017-18 budget speech by the numbers

Here are some of the most important numbers mentioned in the budget.

Pravin Gordhan’s 2017-18 budge

We already know that additional revenue needs to be collected through tax – and high earners will be hardest hit.

But there was also some good news sprinkled in here and there – here are some of the key numbers.

1 million job opportunities – the number of jobs the newly created “youth employment service programme” will aim to create over the next three years.

45% – South Africa’s new tax percentage for the “super rich” – those earning over R1.5 million per year.

R28 billion – the amount of money this new increase will bring in.

R482 billion – the total amount of money expected to be collected through income tax.

R10.8 billion – the amount of money going towards provincial road maintenance

R900 000 –  the cap for transfer duties on home purchases, up by R150 000

R303 – the new medical tax credit per month, up from R286

R90 – the amount by which old age pensions have increased for those over sixty. The amount is now R1600. Disability and care grants also increase by R90 to R1,600 a month; foster care grants by R30 to R920 a month and the child support grant increases by R20 to R380 a month.

R15.4 billion – money for SARNAL, for strengthening and maintenance of the national road network, which now stands at 21 946 kilometres.

R26 billion – the amount government will attempt to reduce spending by over the next two years.

6-10% – the percentage increase for sin tax. See the full list of increases here.

R93.8 billion  – the budget for police services in the 2017-18 financial year

R7.2 billion – the budget for Home Affairs

R75 750 – the tax free threshold for 2017-18 – up R750 compared to the previous financial year

R169 billion – the current  interest on debts

R1.9 billion for broadband implementation.

R3.9 billion for the Council for Scientific and Industrial Research.

Over the next three years, government will spend:

• R490 billion on social grants.
• R751.9 billion on basic education
• R114 billion for subsidised public housing
• R94.4 billion on water resources and bulk infrastructure.
• R189 billion on transfers of the local government equitable share to provide basic services to poor households.
• R142.6 billion to support affordable public transport.
• R606 billion on health, with R59.5 billion on the HIV/Aids conditional grant.