This is how each of these avenues will affect every day South Africans.<\/p>\n
\n
Reducing Expenses<\/strong><\/h3>\n![\"Gauteng](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2014\/02\/Gauteng-Online.png\")
<\/a><\/p>\n“We have already seen progress in provincial cost reduction with the Gauteng Provincial Government dramatically reducing fruitless and wasteful expenditure by 93%, bringing in significant cash savings of R386 million,” said Essop.<\/p>\n
“Gauteng has also piloted open tender procurement to reduce irregularities in procurement. This subsequently brings down the cost of goods and services. In 2016 alone, 72 projects across the province with a collective value of R10 billion went through the process.”<\/p>\n
The idea is to translate Gauteng’s success to South Africa’s other provinces so that the\u00a0reduced expenditure can be reflected in the national budget.<\/p>\n
How it will effect you:<\/strong><\/p>\nIf provincial\u00a0and local government can cooperate to the same or similar level as that of Gauteng around the country, it will not only benefit taxpayers’ pockets, it should also provide a much clearer idea of where taxpayers’ funds are actually being used.<\/em><\/p>\n
\nInnovation\u00a0<\/strong><\/h3>\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/06\/Business-growth.png\")
<\/a><\/p>\n“South Africa can’t keep throwing money at problem areas and hoping they will see growth,” noted Essop.<\/p>\n
Instead the country needs to make a transition from known revenue sources – such as the wage bill, mining and manufacturing – towards sectors such as tourism and agriculture.<\/p>\n
Essop used the UAE as a prime model for South Africa to follow, considering both countries depend on commodities and a need to diversify revenue streams.\u00a0He noted that the UAE’s dependency on oil industries has declined from close to 80% in the 80s to around 30% of GDP in 2014.<\/p>\n
In 2016, the nation launched its UAE Strategy for the future where all government departments will appoint “directors of future planning”. This will institutionalise future planning and innovation, making it a mandatory element of all operations and informing government policy making accordingly.”<\/p>\n
How it will effect you:\u00a0<\/strong><\/p>\nWhile tourism and agriculture are still on the cards, the prerogative seems to be on\u00a0Small, Medium and Micro-sized Enterprise (SMME) growth, township economies and entrepreneurship in South Africa.<\/em><\/p>\nIn Gauteng alone, the vision is for township enterprises to benefit from 30% of annual provincial procurement spend. As a result, numerous incentives and initiatives have already been put in place to drive the growth of these small businesses.<\/em><\/p>\n
\nTaxes<\/strong><\/h3>\n
<\/a><\/p>\n“We have already seen progress in provincial cost reduction with the Gauteng Provincial Government dramatically reducing fruitless and wasteful expenditure by 93%, bringing in significant cash savings of R386 million,” said Essop.<\/p>\n
“Gauteng has also piloted open tender procurement to reduce irregularities in procurement. This subsequently brings down the cost of goods and services. In 2016 alone, 72 projects across the province with a collective value of R10 billion went through the process.”<\/p>\n
The idea is to translate Gauteng’s success to South Africa’s other provinces so that the\u00a0reduced expenditure can be reflected in the national budget.<\/p>\n
How it will effect you:<\/strong><\/p>\n If provincial\u00a0and local government can cooperate to the same or similar level as that of Gauteng around the country, it will not only benefit taxpayers’ pockets, it should also provide a much clearer idea of where taxpayers’ funds are actually being used.<\/em><\/p>\n “South Africa can’t keep throwing money at problem areas and hoping they will see growth,” noted Essop.<\/p>\n Instead the country needs to make a transition from known revenue sources – such as the wage bill, mining and manufacturing – towards sectors such as tourism and agriculture.<\/p>\n Essop used the UAE as a prime model for South Africa to follow, considering both countries depend on commodities and a need to diversify revenue streams.\u00a0He noted that the UAE’s dependency on oil industries has declined from close to 80% in the 80s to around 30% of GDP in 2014.<\/p>\n In 2016, the nation launched its UAE Strategy for the future where all government departments will appoint “directors of future planning”. This will institutionalise future planning and innovation, making it a mandatory element of all operations and informing government policy making accordingly.”<\/p>\n How it will effect you:\u00a0<\/strong><\/p>\n While tourism and agriculture are still on the cards, the prerogative seems to be on\u00a0Small, Medium and Micro-sized Enterprise (SMME) growth, township economies and entrepreneurship in South Africa.<\/em><\/p>\n In Gauteng alone, the vision is for township enterprises to benefit from 30% of annual provincial procurement spend. As a result, numerous incentives and initiatives have already been put in place to drive the growth of these small businesses.<\/em><\/p>\n
\nInnovation\u00a0<\/strong><\/h3>\n
<\/a><\/p>\n
\nTaxes<\/strong><\/h3>\n