Cost Cutting in Non Productive Spending in 2016/2017 Budget Commended
Governments targeted actions on cost cutting and reducing expenditure especially on more non- productive programmes or interventions is important to note. This was the sentiments of PWC Partner/Director, Chantell Husselmann on the recently announced 2016/2017 Budget.
“One concern to mention is the projected decrease in the SACU revenue over the current MTEF, where we would only expect a rise by 2018/19 again, as projected and this obviously puts a lot of pressure on Tax revenue as a major inflow of revenue funding for Government activities”, said Husselman.
Percentage increases in Beer – 8.5%, Unfortified wine- 8.0%, Fortified wine- 6.7%, Ciders and alcoholic fruit, beverages – 8.5%, Spirits – 8.2%, Cigarettes – 6.7%, Cigarette tobacco – 6.8%, Pipe tobacco – 7.0 % and Cigars – 6.7% were confirmed by Minister of Finance Calle Schlettwein in Budget speech recently.
Meanwhile, a ‘Private Sector Budget Review Luncheon’ were held last week by KPMG, Simonis Storm, Prime Focus Magazine and the NCCI, in shedding some light on concerns by most who wonder what the recently presented Budget means to our economy, the man on the street and the way forward.
This week, Spotlight News speaks to PWC Partner/Director, Chantell Husselmann on the recently announced Budget, and looking at comments raised at the “Private Sector Budget Luncheon” organised by Namibia Chamber of Commerce and Industry (NCCI) , KPMG, Simonis Storm Securities and Prime Focus Magazine.
Some of the panellists debating on the Budget were Bruce Hansen of Simonis Storm Securities, Adeline Beukes of KPMG and Namibia Chamber of Commerce and Industry President Sven Thieme.