The 2017-18 budget was tabled in a hostile economic climate, with Finance Minister Pravin Gordhan trying to balance fiscal spending with the expanding service delivery demands. With a deficit of 3.1% amounting to R149bn, SA needs to borrow, and maintaining the balancing act is going to require robust fiscal discipline. In the midst of this uncertainty, it was encouraging that the budget speech gave hope to the poor. The announcement that those with taxable annual incomes of R1.5m or more will in future pay 45% income tax will resonate with the masses. Sharing the wealth of the rich to finance services for the poor supports the notion of socioeconomic transformation, which was alluded to by President Jacob Zuma in his state of the nation address. Themba Mzula HlekoRosslyn Gardens
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.