Economy

STANLIB Economic Focus: Budget Speech 2017

Consumers to remain under pressure in 2017/2018 tax year, says Old Mutual

The 2017 National Budget Speech delivered by Finance Minister Pravin Gordhan did little to bring relief to consumers’ pockets, and reinforces the need for South Africans to keep their finances under control. It also underscores the urgent need for consumers to ensure they are making full use of the tax benefits of the various savings vehicles available to them, such as retirement funds, retirement annuities and tax-free savings accounts.

#Budget2017 – Did Gordhan succeed?

Following Thursday’s budget speech by Finance Minister Pravin Gordhan, several companies have reacted to the new revelations. FAnews have received several statements, releases and reactions regarding the 2017 Budget Speech.

Notes from the Budget 2017

The focus of the 2017/18 national budget was to raise R28 billion by increasing taxes. This has resulted in the tax burden increasing from 26% to 26.7% of gross domestic product (GDP), which is still in the middle range relative to similar countries.