Budget 2021 – Cyril, Tito face their Maggie Thatcher moment
CAPE TOWN – When you clear away the financial debris of a horrific year, the one thing now abundantly clear is South African lawmakers need to absorb the toughest message possible for a...
View ArticleFULL SPEECH: South African Budget 2021
By South African Finance Minister Tito Mboweni It is my singular honour and privilege to present the 2021 Budget. Today I table before this House: 2021 Appropriation Bill 2021 Special Appropriation...
View ArticleTreasury’s developments on the economic recovery plan
Treasury has outlined its progress on the economic recovery plan, which focuses on electricity generation, creating employment, supporting industrial growth, the infrastructure rollout and creating an...
View ArticleThe ‘few’ PIT taxpayers who keep SA going
The latest detail from Treasury shows that a mere 113 000 people – 0.2% of the population – pay the maximum marginal tax rate of 45% which kicks in at monthly income of R130,000. These account for 26%...
View ArticleSA’s overburdened taxpayers hit again: how the budget plays out in your...
Helping to unpick the details of the National Budget and how changes affect your investments and tax bill is Dawn Ridler, of Kerenga Wealth Ecology. She tells BizNews that although there’s a huge hole...
View ArticleMagnus Heystek: We got lucky! Commodities run saved us from tax pain – but SA...
SA’s trillion dollar debt question: R3.9 trillion – projected to go up to R5 trillion – is a massive jump and a big gamble that the SA economy will pick in a few years, says Magnus Heystek. The...
View ArticleIs SA heading into economic crisis? Independent economist Dr Azar Jammine...
Finance Minister Tito Mboweni has repeatedly warned that South Africa is in a perilous financial situation. Does the 2021 budget go far enough in reversing economic decline? Dr Azar Jammine is...
View ArticleDebt must be tackled through reform before it’s too late – DA
During Finance Minister Tito Mboweni’s budget speech, some sobering truths were revealed. South Africa’s sovereign debt situation is enough to make anyone’s eyes water. In the face of declining tax...
View ArticleDoubting SAs speak: Tito’s 2021 Budget is nothing more than a pipe dream
South Africans are still reeling after Finance Minister Tito Mboweni’s 2021 Budget speech delivered to Parliament. Despite the really poor news being peppered with snippets of good, citizens are...
View ArticleBudget 2021: Alec Hogg’s insights from inside parliament
BizNews founder Alec Hogg was in Cape Town for Tito Mboweni’s budget speech. After scouring thousands of pages of documents in parliament’s lock-up prior to the speech, he has valuable insights that he...
View ArticleFULL SPEECH: 2021 Medium-Term Budget Policy Statement
By South African Finance Minister Enoch Godongwana Introduction Madam Speaker, we are tabling the 2021 MTBPS under unprecedented conditions. The Covid–19 crisis has caused severe disruptions to...
View ArticleKey assumptions and background to Medium-Term Budget
Assumptions – SA Treasury has worked its Budgeted figures on the assumption that the commodity price boom will be temporary, with SA’s primary export earners platinum, coal and iron ore experiencing...
View ArticleThe Medium-Term Budget in a Nutshell
The good news is SA Treasury’s tax revenues have surged due to the commodity price boom with R128bn more flowing into the national coffers than was anticipated in February. The bad news is that all...
View ArticleSA’s four horsemen of Economic Impediment – and how Treasury plans to unseat...
South Africa’s financial position has been in decline for a dozen years as spending raced ahead by an average of 8.8% a year, primarily due to expansion and overpaying of public servants. Since the...
View ArticleAnother Budget, another set of promises. Why the Hell should we believe Enoch?
It’s Day 106 for new finance minister Enoch Godongwana. He says there is little in today’s Medium Term Budget Policy Statement that wouldn’t have been in it, had his famously sartorially inelegant...
View ArticleIn Full: SA Finance Minister Enoch Godongwana’s 2022 Budget Speech
2022/23 Budget Speech by Minister of Finance Enoch Godongwana 23 February 2023 Honourable Speaker; His Excellency, President Cyril Ramaphosa; His Excellency, the Deputy President David Mabuza; Cabinet...
View ArticleBudget 2022: The Executive Summary
By Alec Hogg SA’s total tax revenue exceeded the February 2021 Budget Speech estimate by R182bn at R1.55trn. A year ago revenue had been estimated at R1.4trn, which was adjusted to R1.5trn in...
View ArticleBudget 2022: “Relax SA” – amazing how an R182bn windfall can lift the mood.
By Alec Hogg This morning, as we left the Imbizo Centre where pre-Budget lockup pressers are hosted, SA’s finance minister Enoch Godongwana took my arm: “I’m relaxed,” he said, “this ship is turning...
View ArticleBudget 2022: Eskom’s debt – The good, the bad and the ugly
Analysts almost unequivocally agree that the financial health of South Africa’s power utility, Eskom, is the single biggest economic threat facing this country. National Treasury concurs, with Eskom...
View ArticleBudget 101 with Magnus Heystek
Hard-hitting investment strategist Magnus Heystek gave his insight into Enoch Godongwana’s first budget speech as finance minister. On a high-level basis, Heystek gives the finance minister the thumbs...
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