Important things youngsters need to know about the Budget 2012
Contrary to the traditional media, I will use a different approach to write about some main highlights about the 2012 budget presented this evening. Why? Because my main blog audience remains YOU, the young generation, even if I consider our dear friend Mike as a very active member of the young generation 🙂
Some of you won’t probably care if the government is giving loans to Small and Medium enterprises or what are the expenses/investments of the government. So, I will summarise a few points which will definitely be of interest to you :
[Deeply sorry if I left any errors, I will correct where needed]
- +10cents for SMS and MMS (That is gonna surely hurt like someone stabs a knife right into the heart!)
- +10-30% duty increase on alcoholic drinks
- +15% duty increase on cigarettes
- NO VAT on nicotine gums to help smokers quit
- Foreign part time students will now be able to work up to 20hrs per week
- Special classes 3 times a week during summer holidays to help students to catch up.
- Excise duty on 400cc and above motorcycles increase from 45% to 100%
- Removal of excise duty on motorcycles below 125cc
- Installation of fiber optics to Rodrigues Island for a better internet connectivity
- Abolition of the 30 percent customs duty on tyres for all types of vehicles.
- Abolition of the 15 percent duty on perfumes, cosmetics, shavers, hair removing appliances, hair clippers, shampoo, and other preparations for hair
- Abolition of all specific duties on shoes and other footwear
- HRDC will help unemployed youngs to get a job by financing up to 60% while the companies will do the rest.
- Purchase of 25 additional speed cameras (La poule aux oeufs d’or – That’s how the govt will recover loads of money)
- Increase of the medical grant of Rs200,000 to Rs500,000 for those who need to get treated abroad.
- No VAT increase as the rumor which spread a few days ago.
- Initiatives brought forward regarding CSR and measures to help the poor
- Of course, there are many more points announced. Let’s hope that they do not rot in a drawer somewhere.
You can download the official budget speech from here. I wrote this post quite in a haste as I have not really read everything on the budget, nor I am an economist nor a financial expert. Just a Mauritian, like you. I will update this post as I get more details (or to correct any errors on my behalf).
Your comments on this budget? Feel free to add other points as comments. Bon weekend to all 🙂