What is likely to come out of the budget speech today?
The Minister of Finance Mr Enoch Gondwana will deliver his budget speech to members of the National Assembly at 2 pm today.
“Economists are expecting a low-key budget that sticks to the line that Godongwana spelled out in his Medium-Term Budget Policy Statement in November,” commented Gaye Davis for EWN.
Finance and economic experts believe the minister will cover some of the most pressing issues today like whether the R350 Social Relief of Distress will change into a formal Basic Income Grant? Or if Gondwana will increase the revenue collection? Is it worth increasing the budget to fight corruption and crime? Will South Africans pay higher levies on fuel, tobacco and alcohol? How will the goverment assist state-owned businesses like Eskom, Prasa, Land Bank and the Post Office that are struggling to stay afloat?
Gaye Davis believes that “people will pay slightly less tax, with lower-income earners set to benefit more than richer people.”
In a separate piece for the Daily Maverick, Marianne Merten believes “the finance minister, who cut his teeth over the years as the governing ANC’s economic policy honcho, must deliver the reality check against the pressure to increase social spending. That push, both ideological and driven by worsening hunger, poverty and inequality, will come as Covid-19 restrictions hit Lockdown Day 699.”
Merten says there should be a balance of politics and finances in the “shadow of vast debt”.
Watch the budget speech live on the links below:
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Here are the top trending stories of the day.
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