The much anticipated 2021 budget speech took place on Wednesday, with many South Africans anxious to hear what finance minister Tito Mboweni would say as the world continues to battle a pandemic.
Surprisingly, no major tax increases were announced - but fuel, carbon tax, sin tax and national debt saw an increase. Mboweni did say that government debt was unfortunately extremely high.
A lot of money will be allocated to the purchase and rollout of much-needed vaccines, alongside a new initiative that will be allocated for emergencies that may arise during the vaccine rollout.
Mboweni said SA is in a much better financial position compared with October 2020, just a few months ago.
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