In his budget speech this week, Finance Minister Nhlanhla Nene emphasised the importance of keeping SA fiscal policy progressive – that is, geared at redistributing resources from the rich to the poor. His tax proposals support this principle by raising taxes for the rich. But in truth, it is far more complicated than that.
Dewald van Rensburg
It will be several more months before the major overhaul of South Africa’s mining law is finalised, making new investment in the sector more or less impossible.
When Finance Minister Nhlanhla Nene tabled his budget review on Wednesday, he was guesstimating in crucial parts.
Government missed its tax targets by more than anticipated and now South Africa is in for a double dose of both higher taxes and lower-than-expected state spending.
Once upon a time there was nothing silly about thinking that massive global levels of under- or unemployment would be a good thing.
Government has hired a data mining company to find out exactly how much black businesses earn from state tenders.
The SA Reserve Bank can’t be forced to pay back expat billionaire Mark Shuttleworth his R250 million “exit charge” – because, the central bank claims, it never took it.
It is the last major proposal for state intervention in mining to come out of South Africa’s heated nationalisation debate – but the notion of “strategic minerals” seems headed for the garbage heap.
The new face of South Africa’s government tender process goes live on April 1 and is an overhaul of the much-abused and derided system.
South Africans have been given a bigger stick to take on bosses or colleagues for racism, sexism and unfair discrimination in the workplace – and it’s free.
President Jacob Zuma this week repeated his cure-all defence for Eskom’s lack of electricity capacity: the South African power system was designed for a white minority.
City Press on Twitter
- Government is proposing a pension fund for artists, who often die broke despite their fame: http://t.co/Zf83MJEUEn by @andiMakinana 3 hours ago
- Grace Mugabe’s ice-cream to hit Zim streets: http://t.co/RAIGY1u9YN 4 hours ago
- For 14 years, Central Methodist Church housed the homeless, but now they have nowhere to go, writes Christa Kuljian: http://t.co/TJ8x8Psc8c 4 hours ago
- Cape Town fire rages on: http://t.co/jz0AQuwVme 4 hours ago
- Voters ready to ring in changes: http://t.co/xjbLs1aK3f 5 hours ago
The part of Nhlanhla Nene’s budget that’s getting to me is the fact that he’s upped personal income tax while leaving the corporates alone. That’s not cool.
The article, “Agang SA founder Mamphela Ramphele moves on” by Biénne Huisman (City Press, February 22 2015), contains some serious inaccuracies. In particular, I point to the claim that “The money owed to former staff members ranges from R10 000 to R30 000 for the months of July and August”.
This week we report that banks repossessed almost 5 000 cars from the country’s middle class in the Western Cape and Gauteng provinces.