Budget Speech 2016 – be afraid, be very afraid…

The Money Show’s Bruce Whitfield interviewed Paul Theron, MD of Vestact.

Theron discussed the big five “monsters under Pravin Gordhan's Budget bed”.

Scroll down for quotes from the audio below.

There’s a lot of talk about staving off a sovereign debt downgrade to junk.

Paul Theron, MD of Vestact

Big problems require big solutions. A VAT increase is the solution. It’s the tax that everyone pays.

Paul Theron, MD of Vestact

I think zero rating is a bad idea. It’s too complicated.

Paul Theron, MD of Vestact

There are only two kinds of people who don’t like taxes – men and women.

Paul Theron, MD of Vestact

Sin taxes collect very little.

Paul Theron, MD of Vestact

The ANC can’t cut benefits. It’s running a bit low on support and knows it.

Paul Theron, MD of Vestact

Social grants are affordable and should not be cut.

Paul Theron, MD of Vestact

Government will be forced to offload some parts of SOEs.

Paul Theron, MD of Vestact

Revenue will come from tax hikes.

Paul Theron, MD of Vestact

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