No wriggle room for Pravin in hard times
Finance minister faces the conundrum of maintaining a balance between filling state coffers while ensuring that a weak economy is not harmed further
Finance Minister Pravin Gordhan's budget tightrope may not be any easier than a year ago and he is expected to lean on taxpayers when he presents the 2017 budget in parliament later this month. Since Gordhan was parachuted in a year ago following the dismissal of Nhlanhla Nene, demands on the fiscus have grown and the ever-present threat of a ploy to oust him from the top finance position continues to gain momentum, according to economists.Added to this is the conundrum of maintaining a balance between filling state coffers while ensuring that a weak economy is not harmed further and that investors find the country an attractive destination for their capital. Alan Mukoki, CEO of the South African Chamber of Commerce and Industry, said on Wednesday: "At this time increasing corporate income tax is not an idea that would make a lot of sense. The economy is almost stagnating, there is very little growth and very high unemployment." Higher taxes on companies discouraged investments and ...
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