Taxpayers to feel the pinch as Godongwana looks for money to close funding gap
Tax increases are on the table as the finance minister runs out of options
16 February 2025 - 00:00
With the commodity boom now a thing of the past and the Treasury having already tapped into the country’s foreign reserves to reduce debt, the government is set to squeeze more out of taxpayers to fund a projected R300bn shortfall. Treasury is on a debt reduction path as interest on almost R6 trillion national debt surpasses the R440bn mark, more than is spent on health and social services...
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