At its meeting of 24th November, the Cabinet of Ministers discussed the principles and new policies that would underlie the proposals for the 2017 Budget.

Cabinet urged that all public organisations prioritise their expenditure, cut down on wastage, and improve the efficiency of revenue collection.  Focus should also be placed on promoting economic development and entrepreneurship, and on programmes that best touched the lives of Seychellois, and that contributed to the alleviation of poverty.  Planned projects would be re-prioritised to ensure that urgently required resources were made available where needed.

Consideration would be given to the reintroduction of a new Unemployment Relief Scheme.

It was expected that the proposed Budget estimates of revenue and expenditure would be gazetted by the 1st week of December.

Cabinet considered new thresholds for the presumptive tax to be included in amendments to the Business Tax Act, as proposed following consultations with the private sector.

Cabinet agreed that the implementation of the proposed new system of Progressive Income Tax be delayed to 1st July instead of 1st January 2017, to allow for the full legal framework to be in place.

However Cabinet urged that the new Employment Bill be presented to the National Assembly as soon as possible, and in particular that provisions for the payment of a 13th month salary be effective from January 2017.

Cabinet also discussed a Bill which would set up the structures and mechanisms for the declaration of assets by elected officials and Cabinet Members from January 2017.