Economy

Budget 2023: Fiscal consolidation momentum is set to wane

The National Treasury is likely to reveal a slightly smaller Main Budget deficit for the current fiscal year 2022/23 relative to the estimate of – 4.9% of GDP published in its October 2022 Medium Term Budget Policy Statement (MTBPS) respectively. However, that is where the good news ends.

Budget speech 2023: hopes, expectations, and reality

When the finance minister presented his budget speech a year ago the socio-politico-economic environment was inhospitable; if anything the operating environment this year is even worse.

No Significant Tax Rises Predicted At This Year's Budget Unveiling

You will pay more much more

Financial and risk advisers are on the edge of their seats as South Africa’s Minister of Finance prepares to take to the podium to deliver the 2023 National Budget speech on 22 February. The reason: new developments in the realms of government expenditure and revenue collection have the potential to destroy your clients’ budgets. Unfortunately, in most cases, your client ends up with less cash at the end of the month, making your job of advising him or her on suitable investment and insurance solutions more difficult. PS, experience shows that mounting pressure on business and household budgets are often ‘fixed’ by cancelling or reducing risk cover.