2021 budget could save SA from further ratings downgrades
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Finance minister Tito Mboweni delivered the 2021 budget speech in parliament on Tuesday. The budget looked to hold a firm line on Treasury’s fiscal consolidation plans without imposing proposed tax increases of R40bn over the next four years, despite an already extremely tight fiscal situation worsened by the Covid-19 pandemic.
The decision on income tax - which is aimed at lowering debt and deficit targets, while encouraging economic growth and spending - has been lauded as a good move by Investec chief economist Annabel Bishop, who broke down the budget for us.
The decision on income tax - which is aimed at lowering debt and deficit targets, while encouraging economic growth and spending - has been lauded as a good move by Investec chief economist Annabel Bishop, who broke down the budget for us.