The 2021 Budget may not be considered an Austerity Budget by Minister Tito Mboweni. It’s not a Human Rights budget either, writes TLAMELO M MOTHUDI
In the 2021 budget review, the government outlined a main budget deficit of 7.5% of GDP in 2020/21. That is 1.3 percentage points more than it was in 2019. This is important because a country’s GDP gives an indication of the extent of its economic wealth and performance. Budget deficits indicate lower taxes and increased government spending. This, in turn, may cause higher real GDP inflation – an increase in price of goods and a decrease in the purchasing value of money.
Committee wants briefing from Mboweni on zero-based budgeting and its implications news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
Reactions to Finance Minister Tito Mboweni’s Budget speech on 24 February 2021 have highlighted once again the gap between the ambitious transformative human rights vision in South Africa’s Constitution and the country’s troubled financial management and economic performance.
The Constitution is our country’s supreme law and is binding on everyone, including all branches of government. What role should the Budget play in helping to achieve the transformed society envisaged by the Constitution, especially in promoting the progressive realisation of socioeconomic rights (SERs) – a requirement in terms of our Bill of Rights?
Sections 26 and 27 provide that everyone has the right of access to adequate housing, healthcare services, sufficient food and water, and social security; sections 29 and 24 provide that everyone has the right to a basic education and a healthy environment; and section 25(5) and (6) provides that everyone has the right to equitable access to land. Some o
Austerity budget unpacked - The Mail & Guardian mg.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mg.co.za Daily Mail and Mail on Sunday newspapers.
Tax windfall better by billions than initially projected in budget The expectation is based on revenue collections for the final quarter of 2020 BL PREMIUM 03 March 2021 - 14:18 Linda Ensor
The actual revenue shortfall for 2020/2021 could be up to R30bn smaller than that projected in the budget based on January revenue figures, PwC tax policy leader Kyle Mandy told MPs on Wednesday.
Such an outcome would assist the Treasury in marginally reducing its debt mountain, which is projected to translate to a debt-to-GDP ratio of 88.9% in 2025/2026.
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