Francois Stofberg, an economist at the Efficient Group, said on Friday that Gordhan could raise the money from various taxes. These included higher marginal rates for high-income earners, estate duty taxes, higher gains tax, sugar tax and fuel levy. Stofberg said there was room for a slight increase in the deficit and debt levels without the country being downgraded.
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However, Stofberg expressed doubt that revenue would be under a lot of strain this year, given the easing off of inflation, stronger wage increases, no interest rate increases and a possible 1. He was pessimistic about any plans to cut expenditure that Gordhan might announce.
In his Medium-Term Budget Policy Statement in October last year, Gordhan said the government plans to raise R43 billion through tax measures over the next two years.
It intends to raise R28 billion this year. The government intends to increase the taxes amidst weak economic growth. Gordhan last year highlighted the importance of fiscal consolidation - the reduction of fiscal deficit and debt levels.
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The South African Chamber of Commerce and Industry chief executive, Alan Mukoki said the organisation expected Gordhan to announce plans to fund infrastructure in areas such as water and sanitation, telecommunications and energy. Mukoki said the National Trading forex wikipedia should also make funds available to the development of finance institutions in order to speed up the implementation of the infrastructure projects.
Gordhan to target taxes. He was also unhappy with manipal education stock market course allocations to the Department of Small Business Development. He said he hoped that funding of higher education would also be dealt with.
Students who workathomecareers com review not afford higher education should not be denied education.
Mukoki was steadfast in his opposition to tax increases, saying such a move would put businesses and individuals under strain. Craig Pheiffer, a chief investment strategist at Absa Stockbrokers and Portfolio Management said absa stockbrokers careers was pressure on the Treasury to stick to the deficit promises of the medium term budget policy statement.
With all of the pressure that Treasury is under in the current low growth environment, it free buy sell signals forex be near impossible to show a narrowing of the deficits this time around.
He said the heat would be felt in the higher income groups and the only uncertainty is in the extent of the personal income tax increases. The Treasury could also be less generous with raising the tax brackets for inflation.
Shop Loot African Independent Young Independent IOL Property IVEO. Markets Shares Currencies Commodities Market Indicators. He said the deficit should etch up to about 4. Wishful thinking He was pessimistic about any plans to cut expenditure that Gordhan might announce.
Gordhan to target taxes He was also unhappy with previous allocations to the Department of Small Business Development. Local actress shot and wounded in a home invasion.
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