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Budget 2023 is delivered

November 04, 2022

The 2023 Budget Speech has been delivered by Minister Naadir Hassan this morning.
 
Some of the main highlights:
  1. Consolidation of 4 allowances in the basic salary of all public servants
  2. an average of 10% increase on top of that consolidation for all public service employees
  3. Payment of 13th month, based on performance
  4. The temporary support introduced in July 2022, for inviduals receiving benefits from ASP: pensioners, home carers, disability and invalidity benefits, will continue in 2023
  5. Increase of 10% in stipend for students studying in 17 countries, including at Unisey
  6. Free wifi in all state schools
  7. Introduction of an Education loan scheme
  8. Increase in spending for the housing sector, as well as revisions in existing schemes to allow more access to affordable finance
  9. Revision of Stamp Duty Order
  10. R37 million allocated for athletes to participate in the Indian Ocean Games and Africa Games in 2023
  11. Creation of a new agency for Home Carers to professionalise the service
  12. A coast guard base on Praslin
  13. Introduction of a new environment levy in the tourism sector
  14. New business tax rate on turnover for medium and big tourism establishments
  15. Concessionary business tax rate for the aquaculture and fish processing sector
  16. New tax rate for securities dealers businesses
  17. Revision and new exemptions under 'Income and Non-Monetary Benefits' Act
  18. Construction of a new National Archive/SRC HQ
  19. Introduction of leadership programme in Public Service
  20. Increase spending in infrastructure
  21. Ensuring the country's debt remains sustainable
 
To read the full budget address, kindly click on the link below.
 
 

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