HNWs already ‘fed up’ with current taxation system and ‘leaving the country in droves’
As countries start to edge out of lockdown, government borrowing and stimulus are set to end and the economic toll caused by the pandemic will come home to roost.
Countries across the world will have to start paying off the massive debt they have accumulated over the past year – but, with the financial turmoil it experienced prior to covid-19, it could be a long road ahead for South Africa.
Local media reports in January said that the South Africa Treasury is, unsurprisingly, considering tax hikes to fund vaccines, with widening the budget deficit and reprioritising government spending among other options.