Mauritius | Finances

November 08, 2013

Budget 2014: Live Stenography

Real time comments over speech of Xavier-Luc Duval about Budget 2014

It is 17 h 02 the Finance Minister Xavier-Luc Duval has made its entry into the Chamber of the National Assembly this year as expected.

17 h 04: the national anthem echoed through the chamber

17 h 06: photographers 

17 h 07: Xavier-Luc Duval (XLD) began his speech by talking about a "vision of the future" 

17 h 11: Overview of growth in many countries of the world and the country's economic situation

17 h 12: The inflation decreased to 3.6%

17 h 13: Approximately 2% of the population lives below the poverty line

17 h 15: Growth rate of 3.2% in 2013. Unemployment rate: 8.3%. The estimated at Rs 10 billion foreign direct investment. All sectors of the economy are positive growth except construction.

17 h 17: XLD: "My first goal is to strengthen the 'macro economy'"

17 h 20: Creating an aviation hub '

17 h 22: facilities to improve the port area

17 h 24: Investments of Rs 18.4 billion in 2014 to Rs 54.7 billion in 2015-2018 for public infrastructure to decongest roads, transport and improving water supply

17 h 27:  Introduction of Bus Replacement Mechanism to finance the purchase of 200 'semi-low floor buses' annually. This will be funded by a special tax of one rupee per liter on fuel. Purchase 200 'semi floor buses' per year. Subsidy of Rs 1 million per bus. VAT on the purchase of these buses removed. Measurement at a cost of Rs 1.6 billion

17 h 30: The Master Plan includes the construction of a new hotel in the SSR airport

17 h 33: Rs 1.3 billion will be invested until 2016 to improve the distribution of water from the CWA

17 h 35: A Biomas Development Scheme for the benefit of farmers for organic

17 h 38: Abolition of VAT on photovoltaic panels, which will cause a reduction in their cost of approximately 15%

17 h 39: Rs 6 billion for projects MID

17 h 39: Renewable Energy: culture of a "plant" to replace coal  

17 h 40: Creating a faculty specializing in ocean studies at the University of Mauritius, a Road Map of the Ocean Economy

17 h 41: Energy: Rs 3 billion invested in the St. Louis powerhouse, liberalization of the sale of electricity produced from renewable energy feasibility study on natural gas, a campaign to promote efficiency energy

17 h 43: Movies: 7 films approved to date under the Film Rebate Scheme

17 h 48: BOI can generate Rs 500 million in 2014 and create jobs for young people

17 h 49: The BOI will organize six conferences of CEOs to share their experiences and to strengthen our presence in Africa

17 h 51: Investment: a Fast Track Committee chaired by the Financial Secretary to address projects that have yet to materialize. This committee will make recommendations to the Financial Secretary with respect to any amendments to the laws governing the purchase of real estate by foreigners in Mauritius; amendments to legislation could generate Rs 20 billion revenue 

17 h 51: Creating an Africa Fund of Rs 500 million to finance projects in Africa Mauritius up to 10%, creating a program of consultation, 25% of the freight subsidy on exports to Africa, 50 % subsidies on insurance premiums; 50 renewal scholarships for African students

17 h 53: Tourism: A Public Private Joint Tourism committee will be established to strengthen collaboration between the government and the institutions operating in the tourism sector

17 h 54: Increase of flights: 5 direct lines to China in 2014, other direct lines of Russia, countries of Africa and Asia, the Airbus A380 of Emirates airline will serve our each airline daytime 

18 h 00: Agriculture: Rs 40 million for the stoning of abandoned land, increased subsidies on compost up to Rs 30 million, Rs 1.3 billion to sugar producers for advances grower, Rs 3 million National Plant and Seed Office 

18 h 02: Refund of VAT on agricultural equipment, Rs 4 million, which represent 75% of subsidies for the purchase of nets "anti-bats", Rs 4 million for marketing hog 

18 h 05: Fishing: develop aquaculture, 50% subsidy on the purchase of a boat for fishing up to Rs 200,000  

18 h 10: Fast Track System for the work permit issue treated in two weeks, work permit fees reduced by Rs 10,000 to Rs 6,000, Inclusive Business Award for businesses in and a free website to all SMEs; budget Mauritius Business Growth Scheme rose Rs 80 million, two new industrial parks and Solitude Plaine Magnien, for companies whose turnover does not exceed Rs 10 million, the government will guarantee up to their 70% if they take out a bank loan, which will cost the state Rs 750 million, Rs 100 million for unemployed women back to work 

18 h 22: Exceptionally next year, tablets are offered to students of Form IV and Form V

18 h 23: Education: 125 pre-primary schools disadvantaged get a "grant" of Rs 100,000 each, maintaining the "grant" of Rs 200,000 to nurseries, Rs 87 million to colleges for free wifi, introduction of a Audit Education, 3 university campuses in Reduit, White Mountain and Pamplemousses, Rs 100 million to fund research, introduction of Dual Apprenticeship Scheme

18 h 25: Allocation of Rs 440 million involving 9000 children, Rs 130 million for the hot meal with strict hygiene conditions, Rs 32 million for the renovation of schools in Rivière-des-Eels, Centre de Flacq and Plaine Magnien 

18 h 26: Eight new scholarships for those choosing the field of new information technologies    

18 h 27: Health: creation of a Diabetes Registry Centre, creation of a National Agency for Cancer, Rs 566 million in Victoria, Candos, where there will be six new operating rooms hospital Overseas Treatment Scheme increased to Rs 800,000 for serious diseases, which cost the state Rs 40 to Rs 50 million, recruiting nurses, Rs 300 to each owner to sterilize his dog, an animal hospital

18 h 30: Environment: Rs 100 million for the rehabilitation of beach in Flic-en-Flac, Le Morne and Blue Bay, Rs 185 million for the purchase of trucks for waste collection

18 h 46: Creating a Land Drainage Agency

18 h 47: Drains: Rs 1, 3 billion will be allocated to the Ministry of Public Infrastructure for the construction of new drains and cleaning of existing ones; relocation of some families Vallée Pitot, which cost Rs 30 million and Rs 35 million so for 1 Disaster Center 

18 h 48: Amendment of the Child Protection Act, recruitment of 24 oficiers the Child Development Unit

18 h 49: Recruitment of 100 firefighters

18 h 50: Law and Order: recruitment of 700 police officers, installation of surveillance cameras [CCTV] Port Louis, Beau Bassin, Rose Hill and Quatre Bornes to fight crime

18 h 51: Judiciary: Rs 750 million for the renovation of the courts  

18 h 53: Sports 35 scholarships to promising athletes 

18 h 54: Football: creation of a semi-professional league to ten teams, which cost Rs 10 million, Rs 380 million to improve sports facilities, Rs 57 million for lighting football pitches, Rs 250 million for the construction of two 'multi-sport complex' in Triolet and The Source, a national competition for disabled 

19 h 07: Television: the Prime Minister's Office will grant a license to private operators must limit their programming to entertainment, sporting events and distribution of films. This has caused a hubbub in the chamber especially from the ranks of the Opposition. The Speaker Razack Peeroo had to intervene to restore order

19 h 08: Housing: Construction of 1,765 houses by NHDC, lower the tax on buying a home,  families with annual incomes not exceeding Rs 50,000 will pay a 'down payment' of 5% instead of 10% if they get a loan. During the first two years, they will only pay interest 

19 h 15: Consumption: producers of milk, tea, rice and soybeans will be refunded the VAT by the Mauritius Revenue Authority

19 h 16: Increase in pension. 60-89 years: Rs 3623 per month, 90-95 years: Rs 10,789 and more than 100 years: Rs 12,300 

19 h 30: Increase in excise duty of 5% on tobacco.   

19 h 31: Increase in excise duty of 30% on firecrackers

19 h 32: The Registration Duty on motorcycles increased by 30% with the exception of vehicles under 250cc

19 h 39: Education:  The CPE will "soon the past," according to XLD. The government has decided to introduce the 9-year schooling. 

19 h 41: end of the speech of Xavier-Luc Duval, that lasted two hours and fifty minutes  

19 h 51: Navin Ramgoolam parliamentary proceedings adjourned to Tuesday, November 12 

Summarize view

Read Online the Entire Budget 2014

Budget in Details:

Budget 2014: Water and Electricity Prepayment Meters and Water Tank Scheme

Budget 2014 - Infrastructure: Construction of Runnel Under the Montagne des Signaux

Budget 2014: Taxes Which Will Affect Your Wallet

Buget 2014 - Education: Abolition of CPE and Introduction of "9 Year Schooling"

Budget 2014 - Health: Family Physicians Soon Be a Reality

Budget 2014 - Social Security: Increase in Old-Age Pension

Budget 2014 – Sport: Sunrise, Fire Brigade, Scouts Club… Back?

 

 

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