Budget in a Nutshell

REVENUE: Budgeted revenue for 2008/2009 is up to R650bn from R580bn in 2007/2008.
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The man's not for turning
The 2008 budget was a proud staking out of territory by the ANC's right flank. It was full of warnings of the risks of fiscal profligacy, self-congratulation for the wisdom of prudence and positive signals to business
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Staying the course
The 2008 budget provides a reassuring message that SA is open for business, the economy is resilient and treasury is still on track - even if the lights flicker some of the time
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Infrastructure - Money for growth
The outlines of the social security tax, wage subsidies, education and community interventions were welcome, but the budget speech was thin on detail about government's broader macroeconomic plan.
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State Debt/Bond Market - Good news, bad news
The budget carried mixed signals for the bond market. The continuing fiscal surplus is regarded as a positive surprise. Many market participants were expecting a marked decline, leading to additional government borrowing requirements, says Citi economist Leon Myburgh.
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