Increases in fuel and in basic food prices will affect the poor most as a consequence of poor management over the last 9 years, the opposition leader says.
The poor are set to suffer due to the poor management of the country’s fiscus over the past nine years under former president Jacob Zuma, Democratic Alliance leader Mmusi Maimane has said.
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President Cyril Ramaphosa has been pressuring the finance ministry to reduce spending and increase revenue, and South Africans should thus prepare for another tough budget, finance minister Malusi Gigaba told the Mail & Guardian.
Amid speculation that Gigaba could be reshuffled out of the paramount ministry by Ramaphosa after his takeover as head of state,
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Cape Town – President Cyril Ramaphosa’s State of the Nation of Address (SONA) has received mixed reviews from opposition parties, with somearties give mixed rev welcoming his efforts to deal with corruption and reducing the size of government departments.
Ramaphosa gave his first SONA without any interruptions from opposition benches on Friday night.
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The UDM wants President Jacob Zuma and his Cabinet to urgently spell out his plan for free higher education to avoid a “commotion” at registration. “One can argue that President Zuma’s announcement of free tertiary education for students who can’t afford it, is a populist Hail Mary pass; but the United Democratic Movement (UDM) believes..
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Eskom spokesman Khulu Phasiwe said the firm’s sales growth had been muted while its operating cost was very high and its tariff for the current financial year was low. South Africa’s scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in “trouble” if the..
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Michael Sachs, the head of the budgeting office at the national treasury, has reportedly resigned because of interference in its budgeting process by the presidency. The Business Day newspaper reported on Monday morning that “a joint team from the treasury and the Office of the president” are searching for R40-billion in expenditure cuts from the..
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The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
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SARS is getting desperate after suffering huge shortfalls, and is now auditing a large portion of taxpayers who need to receive refunds. This is according to the Rapport newspaper, which spoke to tax practitioners about changes at the revenue service. According to the newspaper, more salary earners are subjected to audits – while SARS takes..
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The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
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The R50‑billion shortfall in tax revenue that the treasury will need to find elsewhere to plug the budget gap is close to how much state-owned entities (SOEs) have thrown down the drain in the past financial year. The auditor general, Kimi Makwetu, released national and provincial audit results on Wednesday. Although the number of clean..
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A screenshot of Jacob Zuma taking a nap during Malusi Gigaba’s mini-budget speech has gone viral. Gigaba delivered his “maiden” budget speech on Wednesday – and the forecast was pretty grim. But if you’re hoping that President Jacob Zuma was going to zoom in to try and boost the confidence of consumers and investors, you’re..
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Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of..
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Finance Minister Malusi Gigaba is in an unenviable position. In his maiden budget – today’s medium-term budget policy statement – he must confront, among other things, low economic growth, a tax revenue hole big enough to fly a plane through and the budgetary consequences of struggling state-owned enterprises. These issues are some of the chief..
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