Warning: Tax hikes ahead
South Africa’s fiscal predicament is about to get a lot worse, and may necessitate the end of certain tax breaks that mostly benefit the rich
13 July 2023 - 05:00
South Africa’s growth prospects have worsened substantially over the past few months and financing conditions have tightened significantly. The implications of this double whammy for the fiscus and service delivery are dire.
These are teased out in a new working paper — “Austerity without Consolidation: Fiscal Policy and Spending Choices in Budget 2023” — by Wits University adjunct professor Michael Sachs and fellow researchers at the Wits Public Economy Project (PEP). ..
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