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Pravin's
hand steady, says property chief
Finance Minister Pravin Gordhan has mapped out a steady course for the
South African economy in challenging times, says a leading property figure.
Young Carr, CEO of Aida National Franchises, says the Budget has addressed
the "real issues" facing the economy and the conservative, yet
realistic approach is exactly what was needed.
"A steady hand on government expenditure, with specific reference
to waste and corruption, will free up much-needed revenue that can profitably
be employed elsewhere.
"The R1bn allocation to speed up housing provision and the R500m
allocation for bulk water infrastructure will improve prospects for the
local property market, which is slowly coming out of a severe slump.
"We also welcome the emphasis on rural development, since it ties
in with job creation over the longer term - a much needed strategy for
the wellbeing of the property market as a whole - and the R2,5bn recapitalisation
of Land Bank will give added impetus to economic and housing development
in these areas.
"Government initiatives to sit down with commercial banks to address
bank charges are also to be welcomed. Every small saving that will put
more money in consumers' pockets will contribute to kick-starting an economic
revival.
We are also pleased that consumers will not be faced with increases
in personal tax this year," Carr says.
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