Higher taxes would hit retailers hard
Clothing stores would feel the squeeze most as consumers reduce spending
25 February 2020 - 09:14
SA’s retail stocks are likely to bear the brunt of tax increases, should finance minister Tito Mboweni target consumers with revenue-raising measures in his budget on Wednesday.
Consumer spending power is under severe strain, with confidence at a two-year low against a backdrop of a 30% unemployment rate and an economy that has not achieved a 2% annual growth rate since 2013...
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.