'Horrible and incompetent': Economists slam government's plan to increase tax

’Horrible and incompetent’: Economists slam government’s plan to increase tax
By Manyane Manyane
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Johannesburg - As the government scuttles to find funds to cover the cost of a Covid-19 vaccine, its proposed plan of increasing taxes to foot the bill has been slated by economists.
Professor Chris Malikane, director of the Macro-Financial Analysis Group at the School of Economics and Business at Wits University, said the tax increase in a recession cannot be justified in both theory and policy.
“No well-trained economist would ever suggest raising taxes in a recession. It is the same as cutting spending in a recession, it is as horrible as it is incompetent. Any student of economics would be horrified by this proposal. Raising tax rates when incomes and unemployment are rising? I am to say it is just bad,” said Malikane.

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