HILARY JOFFE: Budget process requires a deeper debate
SA needs a far richer debate on fiscal policy if it is to come up with a credible income statement and balance sheet
07 March 2025 - 05:00
The last time VAT rate was raised was in the February 2018 budget, to fund the huge expansion of student aid in the wake of the countrywide Fees Must Fall protests.
Go back to the medium-term budget policy statement of October 2017 and there was a detailed costing of the extra spending that was required, along with a warning that such structural increases in expenditure to accommodate new policy initiatives would have to be matched by parallel tax increases...
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