Malusi Gigaba – Prepare for a tough budget

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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Why Zuma’s free higher education plan will cripple SA’s finances

The country’s fee-free higher education initiative, controversially introduced by President Jacob Zuma in the dying weeks of 2017, will plunge the country into a deeper financial crisis if it isn’t adjusted one way or another. Days after Zuma made his surprise announcement, Ramaphosa was elected president of South Africa’s ruling party, the African National Congress. […]
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VUT scraps upfront payment for ‘poor’ students

The Vaal University of Technology and its student representative council (SRC) have agreed that students who come from households with an income of R350,000 and less will not pay registration fees at the beginning of the year. Students from households whose income is more than R350,000 are required to pay R4,000 upfront. This comes as […]
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Taxpayers had coughed up a whopping R38 627 159 in salaries to civil servants who had been suspended

Johannesburg – The government has forked out a massive R412 million to 7830 public servants who have been on long periods of sick leave between January last year and August of this year. This was revealed by Public Service Administration Minister Faith Muthambi this week when responding to a written parliamentary question from the UDM’s […]
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New social grant payment system unveiled

In with the new‚ out with the old. The SA Social Security Agency and the SA Post Office have reached a landmark agreement to usher in a new social grant payment system that will see recipients getting their grants from banks‚ various merchants and spaza shops. The agreement was finalised on November 17 and the […]
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Steinhoff implosion staggers SA

The collapse of Steinhoff International’s share price this week, following allegations of accounting fraud, is being described as the biggest corporate failure on the JSE so far, but it may just be the tip of the iceberg. On Thursday afternoon, Finance Minister Malusi Gigaba said he supported a decision by the Financial Services Board (FSB) […]
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Gigaba: SA To Raise Revenue By R15bn In 2018’s Budget To Curb Debt

South Africa will implement spending cuts of R25 billion rand and raise revenue by R15 billion in next year’s budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40 billion, or 0.8% of GDP, would be used to tackle rising public debt which otherwise could balloon beyond […]
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ANC regime is the reason why South African citizens live in poverty

Two equal evils, poverty and inequality lie at the root of South Africa’s economic problems. Both should be treated equally. If the focus is only on inequality, it will create an economy where everyone is equally poor, except the elite which holds power, said adv. Anton Alberts, chairman of the FF Plus. Adv. Alberts said […]
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Don’t be fooled by Ramphosa’s ‘New Deal’ or NDZ’s ‘radical economic transformation’

It is now abundantly clear that the race to succeed Jacob Zuma as ANC president next month is between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma — the president’s former wife and preferred successor. No one else matters. All our attention should be focused on these two. Not that the other supposed candidates for the […]
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Treasury senior official calls it quits as Zuma takeover looms

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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How you will pay for Zuma’s free education plan

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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How you will pay for Zuma’s free education plan

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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Treasury letter – Sassa should not have disqualified Post Office

A letter by National Treasury to acting South African Social Security Agency (Sassa) CEO Pearl Bhengu says the agency should not have disqualified the South African Post Office (SAPO) from three possible services in the social grants scheme. Treasury was given a week last Wednesday to review all the deal points of the then-collapsing deal […]
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South Africa is held hostage to the toxic politics of the ANC

If it showed anything, the recent medium-term budget policy statement has proven that South Africa does not have a government capable of dealing honestly and head on with the developmental crisis that the country finds itself in. It will not have such a government for some time, at least not until the 2019 general election […]
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Parastatal waste equals tax shortfall: Treasury will need to find new resources to close the budget gap

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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