DURBAN – With the National Budget looming on 20 February (2019), the general consensus appears to be that Finance Minister Tito Mboweni is on a tightrope of sorts.
He needs to deliver a Budget, pre-election, that will source maximum revenue to alleviate a major shortfall and also restore confidence, hopefully while containing costs and irregular expenditure. On the other hand, he is faced with consumers who are already baulking at higher taxes including VAT and facing inexorably rising costs of electricity, water, rates and fuel levies, among other indirect taxes.
"As the housing market takes its lead from general business, investor and consumer confidence, coupled with the current state of the economy, what we are hoping for is a Budget that will achieve a boost in sentiment and economic growth, while allaying global concerns regarding South Africa’s economic future," said Andrew Golding, chief executive of the Pam Golding Property group....
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