UK inflation data and New Zealand rate hike remind investors that global economy still faces many challenges
The state is unable to meet its own responsibilities and those it has consciously reserved for itself
‘Nuggets’, ‘biltong’, ‘sausages’, ‘meatballs’, ‘patties’ and ‘burgers’ are deemed as terms for meat only
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
Tech company wants to make more products outside China
This is the steepest fall in retail activity since January 2021, showing the effects of higher inflation and interest rates
The claim by Sars that it costs the country R31bn is wrong — the real cost is about R4bn a year
President-elect wastes no time assuming power despite looming challenge
World cricket is on a precipice and Test cricket must be allowed to survive in order to embed the basic principles of the game
German traffic police are investigating the cause of the incident, which police say involved an autonomous vehicle
Invest your money offshore and die poor. This is a quip from Efficient Group chief economist Dawie Roodt. Speaking at the Free Market Foundation on the budget and fiscal condition of the country, Roodt emphasises the increased offshore institutional investment limits and says asset managers will certainly be maxing out on them.
And with an increase in estate duty, he recommends a good adviser to help minimise this death tax.
Roodt says that the budget is still very much a Jacob Zuma budget, presented by a Zuma minister. With national budgets being a three-year rolling design, there was simply no time to change the numbers. However, the medium-term October budget review could be more Ramaphosa-like.
A key concern for Roodt is the ever-ballooning state spend. "We are trying to spend ourselves rich," he says. "That is what wealthier developed countries can do. As an emerging market, we should rather be saving, investing and creating wealth — and we are certainly not doing this."Roodt e...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.