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What kind of economy can we expect as individuals in 2021?
The availability of jobs and the impact of any increased or additional taxes on personal finances will be the biggest concerns.
By Bryden Morton and Chris Blair
4 Feb 2021 11:00
It will take time for employers to be confident enought to replace lost full-time positions with new ones. Image: Guillem Sartorio, Bloomberg
Last year was characterised by fear and uncertainty, and the deepest global recession of most peopleâs lifetime. In years gone by, it would have been unthinkable for any of the worldâs leading economies to go into âlockdownâ. Most economies did however actually enter some form of lockdown last year. The uncertainty of this unprecedented event, together with the negative economic impact caused by the social response (lockdowns) has caused much hardship â not only in South Africa but around the world as well.
Government does NOT need to increase taxes to pay for vaccines capetalk.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capetalk.co.za Daily Mail and Mail on Sunday newspapers.
Government does NOT need to increase taxes to fund vaccines - economist
4 February 2021 7:08 PM
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Budget revenue overrun of conservatively estimated R45.8 billion would fund SA rollout twice over, says Old Mutual s Johann Els.
Governments around the world are grappling with the best way to deal with the Covid-19 pandemic.
In South Africa, accessing and paying for vaccines is now at the top of the agenda.
There s been plenty of speculation that government will resort to a solidarity tax, wealth tax or even a straightforward tax hike to cover the cost.
But Johann Els (Chief Economist at Old Mutual Investment Group) maintains that tax hikes won t be necessary:
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Employees signed VSP agreements in August 2020. 17:02
Image: Guillem Sartorio, Bloomberg
South African Airways (SAA) employees who applied for voluntary severance packages (VSP) can expect to receive their funds by the end of January, according to unions at the airline.
The National Transport Movement (NTM) and South African Transport & Allied Workers’ Union (Satawu) have told their members that the R10.5 billion required to fund the SAA business rescue plan and to pay for the VSP has now been made available to the airlineâs rescue practitioners from the Department of Public Enterprises (DPE).
This is unconfirmed as yet by government.