Business welcomes ‘responsible’ budget

2011-03-09 00:00

ORGANISED business in KwaZulu-Natal welcomed Finance MEC Ina Cronjé’s 2011/12 KZN Budget yesterday, praising the sterling work conducted by the Treasury Department in ensuring that taxpayers’ money is properly allocated.

Chief executive officer of the Durban Chamber of Commerce and Industry, Andrew Layman, told The Witness that the provincial government has spent responsibly.

Poviding bursaries for young people will go a long way towards giving the youth much-needed hope, he added.

The KZN Treasury has projected that the province will achieve economic growth of between three percent and 3,5% this year, a significant improvement from the negative growth of 2,24% in 2009.

However, Layman stressed that this level of growth will barely keep up with the expected growth in gross domestic product.

The CEO of the Pietermaritzburg Chamber of Business, Melanie Veness, told The Witness that although the budget does not hold any surprises, the increased spending on infrastructure will improve the prospects for economic growth.

“It’s certainly something that creates an enabling environment for businesses to operate in,” Veness said.

Layman and Veness agreed that it remains unclear how the government will go about creating jobs.

He pointed to the importance of a concerted commitement to maintenance, especially on the part of municipalities, as a means of delivering sustainable employment.

 

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