Budget 2022 | Tax windfall will pay for Covid-19 R350 grant & job creation projects

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The government collected R182bn more in tax revenue over the past 12 months than anticipated in last year’s budget.

“In 2008/9, public debt adjusted for inflation was equivalent to R22,869 for every person living in SA. it has since tripled to R69,291 for every person in the country. Over the same period, real interest costs of this debt rose from R1,984 per to R4,278 per person per year,” The Treasury explained in its Budget Review document.

The government forced public servants to accept increases below inflation and refused to honour the last leg of a costly three years wage agreement signed in 2018. Labour unions have gone to the Constitutional Court to appeal against a labour court ruling that found in favour of the government in the dispute.

 

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