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SA’s economy is being strangled by unstable power supply and post lockdown recovery will be poor if Eskom doesn’t improve, but it says it has a plan.
Electricity supply needs to be improved, economic reforms implemented and Covid vaccination ramped up to push SA on upward growth trajectory.
A Treasury assessment determined the 12J tax incentive did not achieve its objectives of generating economic activity and job creation.
The 2021 Budget graphs paint an uphill battle for SA Finance Minister Tito Mboweni and its taxpaying citizens.
The executive summary of the budget speech outlines Tito Mboweni’s fiscal dilemma with a variety of taxes set to increase in the near future.
The only way out of this mess is a smaller public sector and larger private investment to generate growth and hence, tax revenue.
Ivo Vegter of the Daily Friend makes the case against sin taxes, which he reveals to do far more harm than good in South Africa’s current economic climate.
South Africa’s main stock index plunged the most in seven months Wednesday after Finance Minister Tito Mboweni’s budget update.
Regulation 28 changes, loosening Eskom’s grip on SA were among the issues covered in the budget speech by Finance Minister Tito Mboweni.
SA will borrow from multilateral institutions and draw on sterilisation deposits it holds with the SARB to help finance a budget deficit.