Budget – losing its significance?

While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance.

Successive governments, despite going through the pomp and pageantry of preparing and presenting the budget, have rarely met targets they set for themselves.

In addition, a great part of the budget proposals are also not implemented either due to a lack of commitment, resistance from unions and pressure groups.

The proposals that actually get implemented meanwhile are most often watered down from the original after industry pressure group lobbying.

Then what is the purpose of the budget? Financial analyst say, looking past the expenditure and revenue targets, the budget also introduces changes to the tax system (usually in the hopes of increase revenues for the state), a key factor, with serious repercussions for