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Optimistic Budget Masks a Number of Key Risks
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OPINION | Put the Budget positives in perspective
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High hopes Mboweni s Budget speech bolsters coffers of crime-fighting units Finance Minister Tito Mboweni is expected to deliver the 2021 Budget speech on Wednesday, with the hope that more money can be set aside for crime-fighting, including graft receiving special attention. FILE: Finance Minister Tito Mboweni delivers 2020 Budget Speech in Parliament, Cape Town, on 26 February 2020. Picture: GCIS.
43 days ago
JOHANNESBURG/CAPE TOWN - While there may be little wiggle room as far as the country’s fiscus is concerned, civil society and economists on Tuesday said government would greatly benefit from a budget vote that explicitly laid out plans towards capacitating crime-fighting institutions.
Россиянка рассказала о бюджетном отдыхе на самом дорогом курорте Турции
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Experts call for a 20% sugar tax hike to boost health
Experts are calling for a 20% hike in sugar tax due to the health sector s ongoing battle with the COVID-19 pandemic.
Sugar tax hike
According to the
SABC, the proposal comes as Finance Minister Tito Mboweni is due to deliver the 2021 Budget Speech next week. Experts say a further increase in sugary beverages will not only result in a reduction in communicable diseases like diabetes, but it will also help support the country’s growing tax collection shortfall.
Government currently projects a R300 billion shortfall in revenue in this year’s budget. However, experts say a significant shortfall in the region of R250 billion is still on the cards. They add that the government has lost out on sin tax collections due to the ban on alcohol and cigarettes sale during the lockdown.