After a car crash, you’re lucky to escape with scratches. But when you’re driving a rusted-up jalopy that wasn’t roadworthy in the first place, you’re lucky to come out alive.SA, judging by the budget speech given by finance minister Tito Mboweni on Wednesday, has been astoundingly lucky, given how dilapidated the skedonk is that we’ve been driving for the past few years. For a start, there’s the handy R100bn in extra revenue the government collected in tax this year, which it hadn’t expected it’d make a few months ago.This last-gasp windfall gave it the breathing room to scrap the R40bn in tax hikes which Mboweni had said last year he’d have to implement over the next four years. It’s a major concession — but he probably had little choice."I requested tips from the public to help craft this budget," he said. "Many tips spoke about the limits to increased taxation. We agree that tax increases must be kept to a minimum as we stabilise our public finances. We have chosen not to introd...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.