STUART THEOBALD: Raid the piggybanks, add to the debt pile or cut spending
No sign of compromise across the GNU a day before the revised budget
By the time you read this it may, or may not, be clear that we will be getting a budget speech on Wednesday afternoon. The efforts to find a workable plan that navigates the red lines put down by parties across the government of national unity (GNU) are going to the wire.
The rabbit is stubbornly refusing to emerge from the hat. VAT is the main issue. The DA (and at times the ANC itself) are resolutely against any increase. But there are no other taxes that can make a material difference to government revenue. Sin taxes can be hiked, maybe some ad valorem taxes. The fuel levy was not hiked in the abandoned budget review in an effort to suppress fuel prices at a cost of R4bn, which can be reversed...
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