#Budget2018

Fault line between DA and EFF: To hike corporate tax or not #Budget2018

The ANC, DA, and EFF spoke to Eusebius McKaiser about the 2018 Budget released on Wednesday.

Opposition parties say the ANC government is punishing the poor for its past nine-year mismanagement of funds.

Finance Minister Malusi Gigaba announced a Value added tax (VAT) increase by 1 percentage point during the 2018 Budget Speech.

This has been highly criticised by opposition parties and trade unions who called it a slap in the face for the poor.

The budget was effectively a way of asking South Africans, more particularly the poor, to pay for the past nine years of absolute mismanagement of the economy.

Mmusi Maimane, DA Leader

He actually increased VAT, something that has not happened in the past 23 years. We have to pay for the mismanagement of Zuma's era.

Godrich Gardee, EFF Secretary General

DA leader Mmusi Maimane says no nation can tax itself to prosperity. He says South Africa should set its self up as a place of manufacturing so it can export good to other African countries.

Why don't we think of the reduction of corporate tax? Because once you do that and perhaps make a 10% o manufacturing, you can stimulate that sector to create more work.

Mmusi Maimane, DA Leader

The decision to cut is right, but the way the ANC went about it, I think it was not the right way to go about it; it was the worst way possible.

Mmusi Maimane, DA Leader

On the other hand, EFF Secretary general Godrich Gardee says Gigaba is more interested in protecting the interests of what he termed white monopoly capital because he increased personal tax rather than corporate tax..

Gigaba has the audacity to increase personal income tax, you can tell we have a minister who is interested in the protection of white monopoly capital because he decided not to increase the corporate tax.

Godrich Gardee, EFF Secretary General

Meanwhile, Parliament's chairperson on the standing committee on finance Yunus Carim says an increase on VAT was not desirable and it is regressive.

Eusebius commended the ANC's Yusuf Carim on his honest critique of the budget.

We as the ANC are also very concerned as our alliance partners about VAT. We didn't want it particularly; in fact, we are glad it's not 2%.

Yunus Carim, Parliament Chairperson on the standing committee on finance

Listen to the reactions below.


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