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2014 National Budget: fiscal consolidation could be further delayed

25 February 2014 | General

Finance Minister, Pravin Gordhan, is scheduled to table the country’s 2014 National Budget to Parliament on 26 February 2013. Given that downside risks to economic growth projections have escalated recently, we expect National Treasury to scale back on their growth forecasts, thus threatening a delay in reigning in the budget deficit to a more palatable 3.0% by the end of FY16/17. This may raise the risk of a further deterioration in government debt metrics and thus prevents us from ruling out the potential for further negative rating action.

Don’t expect earth-shattering changes from this year’s Budget – it’s an election year

20 February 2014 | General

This year’s National Budget is unlikely to contain any dramatic surprises and probably won’t include any changes to VAT or Capital Gains Tax rates. Significant changes seem to be limited to non-election years. Think e-tolls, which were hurried in just before the end of last year.

African growth increases as CEO’s show open optimism

19 February 2014 | General

As we steadily move into 2014, there is a general consensus that the global recovery from the 2009 financial crisis will take centre stage as many global economies find themselves in a fairly stable condition.

Black business leaders express disappointment at government’s lack of commitment towards economic transformation

17 February 2014 | General

Following last night’s State of the Nation Address, Nonkululeko Gobodo, Chairperson of SizweNtsalubaGobodo, Southern Africa's fifth largest accounting firm, expressed disappointment that Black Economic Empowerment did not feature on his agenda despite being a key driver of economic transformation.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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