An increase in the fuel levy and a slide in state finance were among the concerns raised when Times Select approached experts for comment on Finance Minister Malusi Gigaba’s budget speech.
Efficient Group chief economist Dawie Roodt
“As expected it was not a good budget. It is strangling the taxpayer and left many questions unanswered including the issue of state-owned enterprises. The minister talked about strengthening the Eskom balance sheet. But what does that mean? Not enough was done to cut spending. The slide in state finance has not been halted and state debt will reach record lows in the next few years‚ which will lead to a ratings downgrade. I understand the grant increase‚ which was probably done to balance the VAT increase.”