By Dr Christoph Nieuwoudt; CEO of FNB Consumer FNB has welcomed the Finance Ministry’s announcement that first-time home buyers will benefit from a R950 million subsidy over the next three years. This is part of the Government’s ‘Our Help To Buy’ initiative to help first-time buyers to own a home. (more…)
Global equity markets: What’s in store for 2019
2018 was the S&P 500’s worst year (-6.2% YoY) since 2008, while the MSCI World Equity Index dropped 10.4% YoY. For the first time in years, all major global asset classes produced negative real returns. Emerging markets (EMs) bore the brunt of the risk-off environment, with the JSE All Share Index closing 2018 with a […]
Budget – South Africans urged to consider long-term view
Commentary by Kenosi Magosha, Head of Client Solutions Savings at Sanlam Personal Finance. Finance Minister Tito Mboweni today said, “We are masters of our own destiny”, as he outlined a number of fiscal prudence measures aimed at assisting SA’s economic recovery. For the South African consumer there is a mix of good and bad news. […]
BUDGET 2019 – OUTA: A new fuel tax without clarity is unacceptable
The Organisation Undoing Tax Abuse is concerned that government has introduced a new tax on fuel (referred to as a carbon tax) at 9 cents per litre on petrol and 10 cents per litre on diesel which comes into effect on 5 June 2019. This new tax will impact on individuals and the transport industry, […]
Mboweni delivers sober budget weighed down by Eskom
By Nazmeera Moola, Deputy MD, Investec Asset Management Finance Minister Tito Mboweni delivered some very hard messages in his maiden Budget Speech today. None of it came as a surprise. However, as the ANC has shied away from facing any of these issues over the last decade, the real surprise lay in their willingness to […]
BUDGET 2019: ‘Public wage bill is unsustainable’
Finance Minister, Tito Mboweni, said today in his maiden budget speech to parliament, that the public wage bill is unsustainable. (more…)
BUDGET 2019: ‘We are borrowing R1.2bn a day’
The Minister of Finance, Tito Mboweni, in his maiden budget speech, today told parliament that in the coming year, Treasury expects revenues of R1.58 trillion and spending of R1.83 trillion. “That means we will spend R243 billion more than we earn.” (more…)
BUDGET 2019: ‘Government is not taking on Eskom’s debt’
Pouring money directly into Eskom in its current form is like pouring water into a sieve. That was the word from Minister of Finance, Tito Mboweni, today as he tabled the 2019 Budget in parliament. (more…)
BUDGET 2019: The tax changes
Addressing parliament today, Minister of Finance, Tito Mboweni said in his maiden budget speech that fiscal prudence required some tax changes, adding that the tax measures for the 2019 Budget are designed to raise an estimated R15 billion in additional revenue in 2019/20. (more…)
BUDGET 2019: Tax revenue revised down
In his maiden Budget Speech today, Finance Minister Tito Mboweni said that tax revenue had been revised down by R15.4 billion in 2018/19 compared with the medium-term budget policy statement (MTBPS) estimates. (more…)
BUDGET 2019: Measures proposed to narrow deficit
Today’s Budget 2019 tabled by Finance Minister Tito Mboweni, proposes tax and spending measures to narrow the consolidated budget deficit from a projected 4.5 per cent of GDP in 2019/20 to 4 per cent of GDP in 2021/22. (more…)
