Born Free, Taxed to Death

The 11th-hour postponement of last week’s budget speech arguably caused more drama and consternation than any of the speech’s content was likely to. The official line was that “some of the government of national unity partners were not happy with a proposal to increase VAT from 15% to 17%.”

From what I can see, the Democratic Alliance is claiming somewhat smug responsibility for this.
A Bloomberg report states, “The Democratic Alliance (DA) defended its decision to obstruct a surprise plan to hike value-added tax, forcing an unprecedented delay in the presentation of the annual budget.”

“Unprecedented” is exactly the right word. This is the first time a budget speech has been postponed since the end of apartheid in 1994, possibly even longer.
The article also quotes DA leader John Steenhuisen as saying, “It prevents the implementation of a 2% VAT increase that would have broken the back of our economy.

“For the first time ever, the ANC was prevented from tabling an anti-growth budget. We will now fight with the same vigour to introduce a new budget that is anchored in growing the economy, rather than increasing taxes or debt.”

Click below to read the full article.
https://lnkd.in/d_CGpb8X

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