BUDGET 2023: Budget in a box

Fuel levy

As in the 2022 Budget, there are no changes to the general fuel levy or the Road Accident Fund levy. In 2022, the state earned R90.4-billion from the fuel levy.

Carbon tax

On 1 January 2023, the carbon tax rate increased from R144 to R159 per tonne of carbon dioxide equivalent. In line with the carbon tax rate increase, the carbon fuel levy for 2023/24 will increase by 1c to 10c/l for petrol and 11c/l for diesel from 5 April 2023.

Education

Learning and culture have been allocated R1.43 trillion over three years.

For 2023:

• Basic education – R293.7-billion;
• NSFAS – R50.1-billion;
• University transfers – R45.1-billion;
• Skills development levy institutions – R24.3-billion;
• Education administration – R18.5-billion; and
• Technical and vocational education and training – R13.3-billion.

Economic development:

Allocated R237.6-billion over the next three years. 

• Job creation and labour affairs – R24.6-billion;
• Innovation, science and technology – R19.8-billion;
• Agriculture and rural development – R27.8-billion;
• Industrialisation and exports – R40.5-billion; and
• Economic regulation and infrastructure – R124.9-billion.

DM