Supplementary Budget 2020
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Budget 2016 must boost SMEs for job growth - Saipa

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Cape Town - Using Budget 2016 to stimulate the small to medium-sized enterprise (SME) sector not only makes good economic sense, it is also in line with government policy, said Ettiene Retief of the South African Institute of Professional Accountants (Saipa).

The latest increases to the public-sector wage bill have reduced the amount government can spend on services and infrastructure by R100bn over the next three years and without notable improvements in service delivery, according to Retief, chair of Saipa's national tax and SA Revenue Service (Sars) stakeholders committees.

“Aside from being unaffordable, increasing the state’s wage bill is not really effective in creating large numbers of jobs - only entrepreneurs in a growing economy can do that,” according to Retief.

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