The Treasury had to be a strong institution if it was to meet its socioeconomic mandate, Finance Minister Malusi Gigaba said in Parliament on Tuesday. The minister also said in his first meeting with members of Parliament’s standing committee on finance that the Treasury would be the "enforcer" across the government in terms of the implementation of the fiscal consolidation that was required by the current environment. The government would have to make do with less resources. The Treasury would be managing fiscal consolidation in a prudent manner while playing a redistributive role. "In the current situation we are in, we need to be responsible and act conscientiously," Gigaba said. Gigaba said the Treasury would have to support structural reforms to diversify, grow and transform the ownership patterns of the economy and to broaden the tax base. It would strive to increase revenue so the government could finance its expenditure plans for the year. Gigaba once again emphasised that a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.