Budget speech 2020/21 expectations: Eskom, SAA and sin tax
As the country waits with bated breath for finance minister Tito Mboweni's budget speech, social media users have sparked a debate, talking all things expectations.
Mboweni is expected to present the budget speech for 2020/21 in parliament in Cape Town on Wednesday.
Plans for state-owned entities (SOEs) Eskom and SAA, and increases in personal and sin taxes, are some of the issues South Africans are expecting Mboweni to address.
South Africa VAT, fuel and sin - and how Mboweni might find the money the country so desperately needs 4 years ago |
On Monday, the DA proposed a Fiscal Responsibility Bill to rein in government's debt.
The party said it had come up with a legal mechanism that would force government to look for ways to reduce the gap between revenue and expenditure, other than increasing debt levels.
The bill is aimed at anchoring fiscal policy and is one of a suite of bills the party is proposing to fence in and better control the way the government exercises fiscal discipline. It also aims to set boundaries and limits on its expenditure.
Here is what tweeps are expecting Mboweni to address.
Ahead of #Budget2020 @geordinhl has challenged @tito_mboweni to implement a new law to control how much debt the government is allowed to get into each year. Government is using the credit card to pay the home loan - it simply can't continue like this! pic.twitter.com/50Av2qoN4W
— Democratic Alliance (@Our_DA) February 24, 2020
Dear @tito_mboweni, if we canned SAA, we’d lose jobs but if we fixed @Eskom_SA with the right leaders at the helm, we’d be creating thousands of jobs. We lose billions more when the lights are off, than when SAA doesn’t fly. It’s time to take SAA off life support 🙏#Budget2020
— S (@sramphaul) February 22, 2020
Cigarettes are currently taxed at 40% in South Africa while the WHO recommends 75% taxation added to the retail price. Increase the tax on cigarettes to the recommended 75%.
— NationalCouncilAgainstSmoking (@SAQuitline) February 20, 2020
#TipsforMinFin #Budget2020@TreasuryRSA @CANSA @HealthZA
What will #budget2020 contain to maintain public common spaces like parks? pic.twitter.com/FeVzdBL4B5
— Budget Justice Coalition SA (@budgetjusticesa) February 22, 2020
So these South African banks have no problem lending you money to buy luxury cars but will make you jump through impossible hoops to secure funding for small business. How exactly is this economy going to turn around #BudgetSpeech2020 #Budget2020 @tito_mboweni
— King of Africa (@VybzCliff) February 25, 2020
Prepare for a Vat hike of 1%, as simpleton, Minister of Pilchard affairs, @tito_mboweni , presents his, "fishy", Rupert budget, of unemployment, degradation and suffering! @TreasuryRSA @MYANC @EsoterikDude @Jed38111039 @OdirileSOuL @MookiMasuku #Budget2020 #BudgetSpeech2020 pic.twitter.com/TTjU0ndXeE
— Sean " Mr G" Goss (@GosSgafc) February 25, 2020
Dear @tito_mboweni and @TreasuryRSA, increase TAX revenue by offering large rewards to anyone who report TAX evasion. Same for reporting corruption. #Budget2020 #TipsForMinFin
— Barnett Erasmus (@BarnettErasmus) February 24, 2020
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South Africa VAT, fuel and sin - and how Mboweni might find the money the country so desperately needs 4 years ago |