Mboweni has taken the plant to Parliament three times, using it as a metaphor for the country’s financial situation. In February last year, he said the aloe ferox was lightweight, hardy and drought resistant.
Ackerman said it was important for the minister to take some time planning the budget because the country had a better picture now than it did at the end of March. But as a result of the Covid-19 pandemic, the country had to prepare for an economic contraction of up to 7%, the SA Reserve Bank said this week.Such poor figures would have a significant impact on government’s revenue streams, said Ackerman.Mboweni surprised South Africa in February by announcing tax relief of R2 billion in respect of personal income tax.
Deloitte said there was no room to increase company tax or VAT and the government was already losing a valuable source of income in the form of customs and excise, as well as VAT, as a result of the ban on alcohol and tobacco sales. Annabel Bishop, an economist at Investec, said the domestic collapse of GDP activity, job losses, companies permanently closing their doors and income losses for many would not be softened by the government’s fiscal stimulus package.
His plant must die, like the anc.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19 LIVE UPDATES | Eastern Cape battles bed shortage as Covid-19 infections surgeInadequate rural testing and a total disregard for Covid-19 regulations by communities have created a perfect storm for the surge in infections in the Eastern Cape, experts say. Sad reality.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Tiger Brands braces for tough second half as Covid-19 disrupts supply chainsWith depressed consumer spending it could cost food producer R500m in lost profit
Source: BDliveSA - 🏆 12. / 63 Read more »
LIVE: President Ramaphosa addresses SA on Covid-19 developmentsPresident Cyril Ramaphosa addresses the nation at 7pm on Sunday evening on developments in South Africa’s risk-adjusted strategy to manage the spread of the coronavirus.
Source: IOL - 🏆 46. / 51 Read more »
Fifty-three Anglo Gold Ashanti Mponeng mineworkers test positive for Covid-19Fifty-three employees at Anglo Gold Ashanti's Mponeng mine in Carletonville on the West Rand have tested positive for Covid-19, the Gauteng department of health confirmed on Sunday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Covid-19: South Africa's unemployment rate expected to reach 50% as economy keeps plummetingChamber of Commerce says the unemployment rate was at a staggering 29% even before the virus hit and could reach 50%. Add to that over 10 Million Azanians who are already unemployed. NOT BECAUSE OF CV19. Tell the truth, the unemployment rate is BECAUSE OF ANC / GOVERNMENT policies and decisions
Source: IOL - 🏆 46. / 51 Read more »