Gordhan announced tax increases to counter sluggish economic growth and lower revenue income. However, this will put an increased burden of already hard-pressed workers who are struggling to get through every month with their finances intact.
Treasury’s balanced and careful approach to fiscal consolidation is to be welcomed, not cutting government expenditure too much and keeping the green shoots the economy was showing alive.
UASA trusts that Gordhan’s mid-term budget will instil more confidence in South Africans, specifically with regard to his message that the solution for a growing economy lies within us, with the knowledge that no-one else will turn our economy around on our behalf.
