SACCI says government budget should be business friendly
The South African Chamber of Commerce and Industry (SACCI), says the South Africa’s budget speech should be business friendly, to seek targets which were laid out by government to combat the high unemployment rate and steer economic growth rates.
SACCI chief executive office, Neren Rau said in a statement, released by the Chamber that, “SACCI hopes that the Budget Statement will reflect a business-friendly fiscal policy that reduces the many hindrances to achieving economic growth and job creation by the private sector in South Africa.”
The statement also noted that the budget should give significant information about the financial planning and structure which will fund the massive infrastructure development program that was laid out by President Jacob Zuma in his State of the Nation Address last week.
SACCI said the budget should cut regulations and red tape for business, especially for Small to Medium Enterprises (SMEs).
“Tangible and immediate measures to cut regulatory bottlenecks and red tape for business generally and SMEs in particular in order to reduce the cost of doing business in South Africa,” the statement said.
The Chamber also called on government for assurance around issues of nationalisation that affect investment.
“Reassurance to foreign and domestic investors on economic stability specifically relating to concerns on Nationalisation.”
Finance Minister Pravin Gordhan is due to give his budget speech to the National Assembly in Cape Town, on Wednesday, 22 February 2012.
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