WATCH LIVE: Finance minister Enoch Godongwana delivers the 2023 budget speech. BudgetSpeech2023 EnochGodongwana
Godongwana faces a daunting task when he delivers the 2023 budget on Wednesday.
Economic research group, Oxford Economics Africa, says we already know that the social relief of distress grant of R350 will continue, but with the fiscal cliff looming, fiscal consolidation remains a key requisite for financial stability and in ensuring debt sustainability.With this in mind, a tax increase might be coming.
“Although government allowed R5.2 billion in tax relief during last year’s budget, announcing higher personal income tax will be difficult to justify, raising the value-added tax rate could offer the quickest and most direct support to the fiscus although it will be an unpopular move.” The group says Godongwana has so far demonstrated pragmatism, but he is also a member of the ruling ANC and bound by its overall policies.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH LIVE | Finance minister Enoch Godongwana delivers 2023 budget speechFinance minister Enoch Godongwana is delivering the 2023 budget speech to the National Assembly in the Cape Town City Hall on Wednesday.
Read more »
WATCH LIVE: Enoch Godongwana delivers his 2023 budget speechFinance Minister Enoch Godongwana will address the nation with the annual budget speech at 2pm.
Read more »
Where you can watch the 2023 budget speech liveFinance minister Enoch Godongwana will deliver his speech at 14h00.
Read more »
WATCH LIVE: Panyaza Lesufi delivers Gauteng Sopa 2023 speech | The CitizenWATCH LIVE: Gauteng Premier Panyaza Lesufi delivers the Gauteng State of the Province Address. PanyazaLesufi SOPA SOPA2023 Click here to watch the live stream⬇️
Read more »
Budget 2023 | UDM, PAC, EFF expectations of Godongwana centre around Eskom, job creationFinance Minister Enoch Godongwana will deliver the Budget Speech this afternoon. Godongwana will have to navigate through the country's immense economic chal...
Read more »
BUDGET 2023 | Godongwana warns of tax hike if calls for basic income grant persistFinance minister Enoch Godongwana has warned he will have no choice but to increase taxes if he’s forced to introduce a basic income grant.
Read more »