Expansionary fiscal stance ushered in with new relief spending
Treasury says the extra spending will be funded by the tax bonanza arising from the commodity boom and will not affect the fiscal framework
The government’s fiscal stance has shifted from one of consolidation to expansion, with its proposal to allocate R32.85bn for Covid-19 relief and to address the consequences of the recent unrest, the statutory body that advises it on fiscal issues said in parliament on Wednesday.
The Parliamentary Budget Office (PBO) which provides input to parliamentary committees on fiscal and economic issues also argued that the Treasury’s failure to adopt an expansionary fiscal stance in the first place contributed to the social insecurity and poverty that underlay the recent looting and destruction that devastated KwaZulu-Natal and Gauteng in July...
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.