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